28 June 2025
The Shah's Developmentalism: Why Did Monarchy Fail in Iran Despite Economic Growth?
While there were ambitious development plans in the 1960s and 70s, there were also fundamental structural issues. These ranged from problems with economic data and the Shah's uninformed decisions, to deeper issues around the structure of the economy and the distinction between mere form and true substance of economic development. Despite efforts to modernize, these challenges impeded meaningful industrial development and perpetuated traditional forms of wealth accumulation, thereby hindering sustainable growth.
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