The Irrational Exuberance About the Iranian Economy

FOREIGN POLICY

BY ROSHANAK TAGHAVI

“You’re so happy!” I couldn’t help but smile at Kaveh as I climbed into the backseat of an old, white Iranian Peugeot taxi on a warm May evening in 2014. By any measure, my friend should have been stressed: He had spent the last 90 minutes winding his way through Tehran’s congested traffic trying to find me. The Iranian capital’s infamous crush of Peugeots, Kia Prides, and motorbikes is often endearing for a newcomer to the city, but, for any resident, an hour-and-a-half of driving through the smog and congestion of Tehran’s narrow streets is normally a recipe for a nervous breakdown. But when I saw him nearly two years ago, Kaveh wasn’t just calm, he was beaming. “I’m just happy to see you here,” he replied simply as he climbed back into the taxi.

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