Shah caller: Iran’s protests are different this time - The Intelligence from The Economist Recap

Podcast: The Intelligence from The Economist

Published: 2026-01-09

Duration: 28 minutes

Guests: Greg Carlstrom

Summary

Iran is witnessing a new wave of protests driven by economic woes, different from past movements, and the regime finds itself without effective means to quell the unrest.

What Happened

Iran is experiencing a resurgence of protests, which began with a strike by electronics vendors in Tehran due to the plummeting currency value. The protests have spread nationwide, with demonstrators chanting slogans against the Ayatollah and in favor of the Shah, indicating a shift in public sentiment. Unlike the 2022 protests focused on social issues, the current unrest is driven by economic grievances, particularly among jobless young men. The Iranian regime, previously able to offer tactical concessions such as relaxing the dress code, now finds itself unable to address the fundamental economic issues plaguing the country. The Iranian currency has lost significant value, leading to high inflation and widespread dissatisfaction. The government has attempted to mitigate the impact by scrapping a preferential exchange rate and initiating direct cash transfers, but these measures are insufficient to alleviate the economic hardships faced by the population. The supreme leader, Ali Khamenei, remains the central figure of power, with calls from protesters for his removal growing louder. Speculation arises about potential internal changes within the regime, possibly involving the Revolutionary Guard or other political figures. The geopolitical implications of the unrest are also considered, with the role of American influence and actions being a factor in the regime's calculations.

Key Insights