Economist Nouriel Roubini says that a conflict with Iran over its nuclear program that involves Israel, the United States, or both could drive oil prices to $150 per barrel and lead to a global recession, MSNBC reports.
Unemployment, economic insecurity and growing inequality between rich and poor are already problems in most of the world, Roubini observes, and a major change in policy priorities is needed.
"All these things lead to political and social instability," Roubini says.
"So we have to reduce inequality. We have to give growth to jobs, skills, education, and increase human capital so workers can compete," says Roubini, who teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics, an economic consultancy firm.
Read more: Roubini: Iran Conflict Could Spark Global Recession, Send Oil to $150
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