ABSTRACT
The ideal of social justice was a prime goal of Iran's 1979 revolution. The monarchy was mercilessly chastised by Ayatollah Ruhollah Khomeini for having neglected the plight of the poor and the disenfranchised, the mostazafan. The fact that, after nearly three decades of 'Islamic' rule, millions of Iranians are still living below the poverty line and the gap between rich and poor has actually widened is not surprising, in view of gross economic mismanagement. The Tehran Stock Exchange's lackluster performance during the current administration and its recent erratic receptions to the initial public offering of four giant state steel, aluminum and copper enterprises, coupled with widespread reports about Iranian capital flight to Dubai, seem to confirm the political uncertainty hanging over the economy. In any case, achieving the goal of social justice through a genuine privatization program, including social-justice shares, requires substantial prior changes in the Islamic Republic's institutional and ideological underpinnings.
