Iran's war economy is squeezing the wrong people

9/21/2026
Amir Hossein Mohaddes
Washington’s blockade is draining Iran’s revenues, but Tehran still decides how the burden is shared. Fuel hikes, weak price controls, and scarce currency for luxury imports risk shifting costs onto ordinary households instead of those higher up the economic ladder.

The Economics of Destruction

9/21/2026
Joan Robinson
We are sitting around discussing ideas totally beside the point. The important question is not whether the rate of inflation is high or low or can be brought under control but whether our generation will succeed in destroying the world. We are seeing the supply of arms pile up as the Americans and Soviets advance from one missile system to the next. This same threat lies before the next generation. We should realize that the stockpiling of destruction precedes discussion of inflation and unemployment. The arms race is too serious a matter for us to be content to dispute economic theories that float off into the stratosphere.