Stagflation is about to push unemployment higher: here's what to expect
About this episode
The episode discusses the potential rise of stagflation and its impact on unemployment, featuring insights from economists and reporters.
What happens when the economy stops playing by the rules? We’re taught that inflation and unemployment move like a seesaw, one goes up, the other goes down. But sometimes the seesaw snaps. Prices climb and people lose jobs at the same time. It happened dramatically in the 1970s, and with oil prices surging again and global tensions rising people are whispering the word Stagnation once more. Guests: Professor Bob Gregory, one of Australia’s most influential economists, who watched the original outbreak of stagflation unfold and later sat on the Reserve Bank board during another era of economic upheaval. Gareth Hutchens, ABC business and economics reporter who has spent years examining how these big economic shocks ripple through everyday life.
People in this episode
Guests: Professor Bob Gregory, Gareth Hutchens
Mentioned in this episode
Organizations: Reserve Bank
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