![An Iranian woman looks on as she stands next to a Benetton shop window in northern Tehran October 24, 2010. While ordinary Iranians struggle to survive international sanctions and deepening economic uncertainty, the gap has widened between the disadvantaged and those who can afford to travel to Paris for a haircut. The extravagant tastes of wealthy Iranians show no signs of abating in spite of tougher sanctions targeting the Islamic state over its disputed nuclear programme. Several new shopping malls packe](/sites/default/files/styles/article_header/public/almpics/2016/04/RTXTW81.jpg/RTXTW81.jpg?h=f7822858&itok=BwStrmMH)
Djavad Salehi-Isfahani received his doctorate in economics from Harvard University in 1977. He is currently a professor of economics at Virginia Tech and a nonresident senior fellow at the Brookings Institution. He has taught at the University of Pennsylvania, been visiting faculty at the University of Oxford, the Brookings Institution and Harvard Kennedy School. He has served on the board of trustees of the Economic Research Forum in Cairo and the Middle East Economic Association. and is currently an associate editor of the Middle East Development Journal. He has co-authored two books: "Models of the Oil Market" and "After the Spring: Economic Transitions in the Arab World." His articles have appeared in various economics journals.
![An Iranian woman looks on as she stands next to a Benetton shop window in northern Tehran October 24, 2010. While ordinary Iranians struggle to survive international sanctions and deepening economic uncertainty, the gap has widened between the disadvantaged and those who can afford to travel to Paris for a haircut. The extravagant tastes of wealthy Iranians show no signs of abating in spite of tougher sanctions targeting the Islamic state over its disputed nuclear programme. Several new shopping malls packe](/sites/default/files/styles/article_header/public/almpics/2016/04/RTXTW81.jpg/RTXTW81.jpg?h=f7822858&itok=BwStrmMH)
![Iranian President-elect Hassan Rouhani speaks with the media during a news conference in Tehran June 17, 2013. REUTERS/Fars News/Majid Hagdost (IRAN - Tags: POLITICS PROFILE) ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. THIS PICTURE IS DISTRIBUTED EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS - RTX10QW5](/sites/default/files/styles/article_header/public/almpics/2015/10/RTX10QW5.jpg/RTX10QW5.jpg?h=f7822858&itok=9_f-jy7y)
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Djavad Salehi-Isfahani
![A youth holds a picture of Iran's late leader Ayatollah Ruhollah Khomeini during a ceremony to mark Khomeini's death anniversary at his tomb at Tehran's Behesht-Zahra cemetery June 3, 2011. REUTERS/Morteza Nikoubazl (IRAN - Tags: POLITICS ANNIVERSARY RELIGION) - RTR2N9KQ](/sites/default/files/styles/article_header/public/almpics/2013/05/RTR2N9KQ.jpg/RTR2N9KQ.jpg?h=2d235432&itok=8tzV0YEm)
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Djavad Salehi-Isfahani
![EDITORS' NOTE: Reuters and other foreign media are subject to Iranian restrictions on leaving the office to report, film or take pictures in Tehran.
An exchange currency dealer sits at his shop as he waits for customer in Tehran's business district October 24, 2011. Iranian media reported last week that monetary authorities had reversed a six-month-old decision to cut interest on bank deposits, aiming to mop up excess cash in the economy and halt a dangerous rise of inflation. The news made sense to econom](/sites/default/files/styles/article_header/public/almpics/2013/01/iran-hyperinflation-currency-RTR2T7ZD.jpg/iran-hyperinflation-currency-RTR2T7ZD.jpg?h=2d235432&itok=4kqhh7Ww)
![Djavad Salehi-Isfahani](https://www.al-monitor.com/sites/default/files/styles/large/public/authors/Djavad%20photo.jpg/Djavad%20photo.jpg?h=55541bb6&itok=r744sBBY)
Djavad Salehi-Isfahani