In 2010, Iran replaced their energy subsidies with a cash transfer program, which was originally intended only for poor Iranians, but was expanded to go to everyone. We now have ample data to examine the effects on labor supply and a handful of other social metrics. Much of our knowledge of Iran’s program comes from a study co-authored by our guest this week, Djavad Salehi-Isfahani, a professor of Economics at Virginia Tech, and a Non-resident Senior Fellow at the Brookings Institution. Dr. Salehi Isfahani explains both the economic impact of the program and the public reaction to it.