The Oil Crisis of the 1970s and the Origins of the Contemporary World

Di, 03.10.2023, 18.00, University of Vienna: Guest lecture with Prof. David S. Painter, PhD (Georgetown University, emeritus)

Di, 03.10.2023, 18.00 – 19.30, University of Vienna


Guest lecture with Prof. David S. Painter, PhD
Georgetown University, emeritus


Fifty years ago, the oil shock of 1973-74 set in motion the transformation of the international order. Disruptions in oil production and distribution in 1973-74 and again in 1978-80 led to sharp increases in oil prices, the restructuring of the global energy system – with environmental as well as economic and political consequences –, the end of the “golden age” of economic growth, and the creation of a privatized international financial order. Although the oil crises reflected and intensified the larger crisis of US/Western hegemony in the 1970s, they also contributed to the long-term conditions that led to the collapse of communism and the reassertion of Western dominance in the Global South during the 1980s. Drawing on decades of research on these issues, David Painter argues that understanding the causes and consequences of the oil crises is crucial to dealing effectively with the challenges facing the world today.


Chair: Christian De Vito, from October Professor of Global History at the Department of Economic and Social History and Co-Speaker of the Faculty’s Research Focus Global History


Contact: Thomas Angerer, PhD, Ass.Prof. at the Department of History




Seminarraum Geschichte 1
1. Stock, Stiege 10
Hauptgebäude (main building)
Universitätsring 1, 1010 Wien