Transformation and Stagflation
How Middle East unrest endangers the global economy—and what the world can do about it.
The stakes are high. Unstable political transitions could lead to high levels of social disorder, organized violence, or civil war, fueling further economic and political turmoil. Given the current risk-sensitivity of oil prices, the pain would not be confined to the Middle East.
This article comes from Project Syndicate.
Nouriel Roubini is chairman of Roubini Global Economics and professor of economics at New York University's Stern School of Business.
Photograph of protesters by Adam Jan/AFP/Getty Images.