THE HIDDEN CONSEQUENCES OF AN IRAN–U.S. WAR FOR IRAN, TURKEY, AND GLOBAL ENERGY
The economic consequences of a full-scale military confrontation between Iran and the United States cannot be reduced to short-term fluctuations in stock markets or sudden spikes in exchange rates. From a political economy perspective, such an event signifies a profound transformation in power structures, patterns of resource allocation, and the functioning of economic institutions at both national and regional levels. Within this framework, the central issue is not the “intensification of sanctions,” but rather the transition from an economy under sanctions to a war economy. In this transition, the logic of economic decision-making shifts away from development and welfare toward survival, the provision of military logistics, and the management of scarcity.
