Word: assets
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Dates: during 1980-1989
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...economic growth in either the industrial or underdeveloped worlds. The producers have learned that prices rise most rapidly when supply is kept barely equal to, or a bit below, demand; they have good reason to think that oil kept in the ground will appreciate more than any other asset, and the Iranian explosion has demonstrated that all-out production, and the forced-draft industrialization and Westernization that it finances, can lead not to stability but to social strains so intense that they end in revolution. The result of a production hold-down could be a decade or so of serious...