Friday, May 11, 2007

"Economics is for donkeys"

"The Islamic Republic imports almost half of all food it consumes and has managed to prevent large scale starvation thanks to heavily subsidized prices. If subsidies were removed, the price of bread, for example, would more than double. Most Iranians are still able to consume sugar because the state picks up a third of the real bill for imports".

Short article by Amir taheri, who writes for the UK Sunday Times, the New York Times and Ashark al Awsat. No need to elaborate further on Taheri's politics. But the article describes reasonably well the Iranian economic predicament. The title of this post is apparently from a quote by a major Iranian political figure. Check the article to learn who it is. It may help understanding why Hizbullah in Lebanon appears to be so impervious to economic thought.

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