Commodity Conflict (1978) examines the world economy after the crises of the early 1970s, with the collapse of the international monetary system, the quadrupling of oil prices, the boom in commodity prices in 1973 and 1974 and by unprecedented inflation, followed by a recession, in almost all major industrialised countries. In this unstable world economic situation, instability was most marked in trade in primary commodities – foodstuffs, fibres and minerals.