Impact of New Iran Sanctions
By Micah Halpern
Tuesday November 20, 2018
I've Been Thinking:
The new sanctions against Iran have been having an impact. Iran is having difficulty importing the materials for their products.
Factories are shutting down companies are firing workers. Reuters ran a series of interviews with small business owners and each and every one bemoaned the current situation.
Unemployment in Iran is officially at 12.3%. But employment among young people 25%. This is particularly devastating because 60 percent of the 80 million people are under 30 years old.
In addition, unemployment among higher educated Iranians is over 50%.
Sanctions are hurting Iran -- but know that they are also hurting Iranians.
The hope is that the pain of the sanctions will urge the Iranian leadership to change their approach to the world. The question is whether or not they care.
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