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Long-time observers of American politics know that in order to truly put your finger on the pulse of the nation, you have to watch Wall Street. Savvy Iran-watchers will tell you that to do the same in the Islamic republic, you need to keep your eye on the bazaar.

Iran's sprawling marketplaces are more than simply centers of commerce. They are home to a powerful class of merchants who historically have served as key power brokers in the country's labyrinthine political system. Indeed, as the renowned historian Walter Laqueur astutely pointed out in the wake of the 1979 Islamic Revolution, the shah's loss of support among the country's shopkeepers and merchants was an important part of why Ruhollah Khomeini's clerical takeover ultimately succeeded. Simply put, Iran's businessmen no longer felt invested in the old, secular status quo. The rest, as they say, is history.