America, oil shocks and the crisis of the 1970s

In this episode, we dive into the turbulent decade of the 1970s, exploring how the oil shocks and economic crises of the era shattered the postwar order in America. Drawing from historian Gary Gerstle’s influential work The Rise and Fall of the Neoliberal Era, we examine how stagflation, energy insecurity, and geopolitical tensions fueled public disillusionment with Keynesian economics and paved the way for a neoliberal revolution.In This Episode:The 1973 and 1979 oil shocks and their devastating economic ripple effectsStagflation: why rising prices and stagnant growth confounded policymakersThe decline of faith in government economic managementHow energy crises exposed vulnerabilities in American global powerThe ideological groundwork for the rise of neoliberal leaders like Ronald Reagan and Margaret ThatcherGerstle’s perspective on how these transformations reshaped the political and economic landscape for decades to comeAbout the Book: Gary Gerstle’s The Rise and Fall of the Neoliberal Era offers a sweeping history of how neoliberalism rose to dominance in the late 20th century and why its influence may now be waning. The book connects domestic crises like the 1970s oil shocks to larger ideological shifts in American and global politics.Further Reading:Gerstle, Gary. The Rise and Fall of the Neoliberal Era.Daniel Yergin, The Prize: The Epic Quest for Oil, Money, and PowerMeg Jacobs, Panic at the Pump: The Energy Crisis and the Transformation of American Politics in the 1970s*****STOP PRESS*****I only ever talk about history on this podcast but I also have another life, yes, that of aspirant fantasy author and if that's your thing you can get a copy of my debut novel The Blood of Tharta, right here:Help the podcast to continue bringing you history each weekIf you enjoy the Explaining History podcast and its many years of content and would like to help the show continue, please consider supporting it in the following ways:If you want to go ad-free, you can take out a membership hereOrYou can support the podcast via Patreon hereOr you can just say some nice things about it here Hosted on Acast. See acast.com/privacy for more information.

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The Explaining History Podcast, created and hosted by Nick Shepley, offers a comprehensive exploration of 20th-century history through weekly episodes. For over a decade, this podcast has been providing students and history enthusiasts with in-depth analyses of key events, processes, and debates that shaped the modern world.The podcast covers a wide range of topics within 20th-century history, including:- Major historical events like World Wars I and II, The rise and fall of communism, fascism and imperialism- Political movements and ideologies- Economic developments and crises- Social and cultural changesEpisodes typically run for about 25 minutes, offering concise yet informative discussions on specific subjects. The podcast invites listeners to engage with complex historical topics in manageable segments, making it ideal for students and busy history enthusiasts.Expert InsightsNick frequently invites expert guests to contribute their knowledge and perspectives, enriching the podcast with diverse viewpoints and specialized expertise. This approach helps listeners understand the competing debates and interpretations surrounding historical events and processes.Educational FocusThe podcast is particularly valuable for students, especially those studying A-level history. It offers targeted content aligned with specific curricula, such as the AQA syllabus for Russian history. This educational focus makes it an excellent supplementary resource for formal history studies.Chronological ApproachWhile the podcast primarily focuses on the 20th century, it adopts a chronological approach to storytelling. This method allows listeners to follow the progression of events and understand how different historical moments are interconnectedEngaging PresentationNick's presentation style combines rigorous historical analysis with an engaging narrative approach. The podcast aims to not only inform but also captivate listeners, making complex historical topics accessible and interesting to a broad audienceBy offering this mix of comprehensive content, expert insights, and engaging presentation, the Explaining History Podcast serves as a valuable resource for anyone looking to deepen their understanding of 20th-century history. Hosted on Acast. See acast.com/privacy for more information.