It’s time to smash Iran’s endemic inflation
As Iran goes to the polls, high inflation is still plaguing the economy. Steve Hanke looks at solutions
Friday’s presidential election in Iran provides us with an invitation to take a look at Iran’s economy. To get a handle on how the economy works and where it’s going, one needs a model of national income determination. For me, a monetary approach to national income determination is what counts. Indeed, in a fundamental sense, it’s a theory of everything. The close relationship between the growth rate of the money supply and nominal GDP is unambiguous and overwhelming.
So, what is Iran’s current
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