Iran is dominated by a mercantile political economy hostile to
institutional development and long-term investment.
The worsening economic crisis in Iran reflects a deeper malaise in the structure of the political economy of the country. Defined by a rCymercantile mentalityrCO, IranrCOs economy is shaped by short-termism, opaqueness and a lack of accountability that determines, and is itself defined by, the absence of the rule of law. Such a mentality does not preclude industry, but it does define the way it is managed, with
widespread inefficiency and corruption acting as a deterrent to any form
of private investment. This failure to think strategically is most explicitly and catastrophically witnessed in the staterCOs environmental
and water management. The Islamic Republic of Iran has a political
economy defined by the ceaseless extraction of wealth, with a system of governance that is defined by it and reinforces it: it is the extractive state par excellence...
https://engelsbergideas.com/essays/the-deep-roots-of-irans-economic-crisis/
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