Capitalist economic crisis of 1973 were influenced by different causes which acted as a driven force for occurrence.

Oil crisis of 1973 and 1979 energy crisis was the reaction of OPEC (organization of Arabs petroleum exporting Countries) to embargo oil exporting to capitalist Nations like USA(United states of America). Japan, Britain, Netherland, France and Canada. Oil embargo was the reactions of Arabs league of Nations as the response of capitalist countries to help Israel during the Yom Kippur war started in 6 October 1873 where by capitalist countries like USA supplied weapons to Israel nations to fight against Egypt and Syria in Yom Kippur war while Egypt and Syria after the war created an embargo of oil to capitalist nations that let to economics crisis in capitalist nations. The 1979 energy crisis occurred in the after math of the Iranian revolution which stated in Early 1978 and ended in Early 1979 with the fall of Shab Mohammed Reza Pahlari he states monarch crisis of oil in Iran led to the rise of oil prices in western countries that led to the shortage of gasoline and fuel. USA was affected by this crisis whereby there was limit travelling and also Britain was affected by this oil crisis of Iran that led to the economic crisis within capitalist nation[11].

Heavy government expenditures in wars, united state lost his wealth due to direct participation in different war for instance. Vietnam war of 1955 to 1975. Where by south Vietnam was supported by united states of America and Northern Vietnam to support by soviet Union USA invested much to support Southern Vietnam so that after to win will regain his wealth allocated in the war fore stance military support and financial supported. In 1973 Northern Vietnam win the war and Southern under the support of USA defeated in that time USA direct involvement ending and all wealth invested were lost hence decline of economic to USA[12]and USA used a lot of money in productions of weapons without returns examples USA used more than 500 billion in production of weapon to be used in wars, that led to USA to misallocated her resources hence crisis.

Overproduction, in 1973’s there were emergence of newly industrialized countries increased competition in the metal industry, triggered a still crisis where industrial core areas in north America and such Europe where forced to restructure and many of capitalist world produced more goods where by in capitalist many people were poor, hence led to under consumptions of goods in capitalist world, that contributed by overproduction in world capitalist economy from 1973 onward.

1973-1975 stock market crush; this caused a bear market between January 1973 and December 1974. Affecting all the major stock markets in the worlds, particularly the United Kingdom, it was one of the worst stock market downturns since the great depression the other being the financial crisis of 2007-2008. The crash came after the collapse of the Bretton woods system over the previous two years with the associated ‘Nixon shock’ the united states dollars devaluation under the Smithsonian Agreement. It was compounded by the outbreak of the 1973 oil crisis in October of that year it was a major event of the 1970’s recession

Therefore due to these problems of the economic crisis to the developed countries influenced the formation of different policies to be adopted so as to improve their economy for stance British introduced Magret carter in 1997 to fight against economic crisis. And also USA president Reagan in 1991 introduced and implemented the policy to improve USA economy like reducing government expenditure and cost sharing policy. All these was to help and solve the economic crisis within her nation, and Economic crisis in the capitalist world led/ affected developing countries like Tanzania whereby there was high increase of price and led to the low industries productions due to oil crisis in the middle East from 1973-1974.