The Hidden Hand of American HegemonyBetween 1973 and 1980, the cost of crude oil rose suddenly and dramatically, precipitating convulsions in international politics. Conventional wisdom holds that international capital markets adjusted automatically and remarkably well: enormous amounts of money flowed into oil rich states, and efficient markets then placed that new money in cash poor Third World economies. David Spiro has followed the money trail, and the story he tells contradicts the