The uprising in Iran that resulted in a deadly crackdown in early January was fueled at its root by economic grievances. Iran’s currency has fallen precipitously in value after years of sanctions and economic mismanagement, with one U.S. dollar now worth some 1.4 million Iranian rials. The protest movement seems quelled for now. But the public’s economic demands have not been addressed. Economics columnist Adam Tooze discusses the key drivers of the protest movement, and whether the regime has r

Economist Adam Tooze explains how closing the Strait of Hormuz will affect global energy markets. “This is the Armageddon scenario,” he says. Listen to the full episode wherever you get your podcasts.