Nalini Prasad on global oil and the Aussie wallet

The ongoing conflict between Iran, the US and Israel has not only led to the deaths of many thousands of people, it has destabilised the global world order. As a middle power, Australia is being drawn into the conflict amid global pressures and strategic resource dependencies. Closer to home, the conflict is having a destabilising impact on Australia’s economy and enhancing other ongoing issues, such as rising inflation and concerns of higher unemployment. UNSW’s Nalini Prasad explains how global and domestic trends in the economy are impacting the Aussie wallet, and your standard of living. She will explain how these trends are threatening an economic situation called ‘stagflation’, unseen since the 1970s and difficult to solve through traditional policy levers.See omnystudio.com/listener for privacy information.