The world became much more inflationary, and quite a bit more protectionist. This did not, however, imply a return to the 1930’s, in large part because energy dependence forced industrial countries to maintain an open trade regime so that they could earn the money to pay for oil and gasoline.
经过一段最初的快速通胀期，美国经济在20世纪70年代又剧烈下跌。全世界的通胀形势都有所加剧，保护主义也有所抬头。然而，这并不意味着又回到了20世纪30年代，主要是因为能源依赖迫使工业化国家维持开放的贸易体制，以便它们挣到足够的钱来购买石油和天然气。