The Don’ts of Economic Policymaking

Repetition of past mistakes in policymaking is more pervasive than many would imagine. Many countries scored spectacularly with economic indicators for a period of time but then mistakes made by their policymakers pushed them into recession. One of the best examples of such countries is Iran. 
In a write-up for the Persian daily Donya-e-Eqtesad, Economist Hossein Abbasi outlines policies he believes the incoming government should not pursue. Below is the translation of the text:  
One of the best examples of an economy beleaguered by its policymakers’ repetitive mistakes over the past half century is Iran: an economy blighted by recessions and production downturns for more than one-third of the past 50 years.