The Rest Is Money 248. How Iran’s uprising has been driven by economic failure
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Feb 2, 2026 A deep dive into how economic collapse, inflation and soaring food prices have driven mass unrest across hundreds of cities. Discussion of corruption, elite capture and shadowy export schemes that worsened currency devaluation. Exploration of sanctions, China’s limited lifeline, and the political obstacles blocking sustained relief and reform.
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Nationwide Violence Signals Political Rupture
- Iran's unrest involved mass, nationwide incidents with exceptionally high fatalities that signal a deep political rupture.
- The scale reflects broad, simultaneous confrontations across ~200 cities, not isolated protests.
Sanctions Caused Stagnation, Not Total Collapse
- Iran's economy stagnated rather than collapsed after sanctions, reversing prior two-decade growth.
- GDP per capita stalled, creating a 'lost 15 years' compared with peers like Turkey.
Rising Inequality Fuels Political Grievances
- Inequality rose as middle-class households slid into poverty while politically connected elites prospered.
- Rising relative deprivation fuelled political grievances that amplified protests.