During the reign of Mohammad Reza Shah Pahlavi, one of the most ambitious projects undertaken by the Iranian government was the White Revolution, a series of far-reaching economic, social, and political reforms designed to modernize the country and transform it into a global power. Launched in 1963, the White Revolution sought to address several deep-rooted issues within Iranian society, including inequality, underdevelopment, and dependency on foreign powers, particularly in the oil sector. Under the Shah’s leadership, Iran pursued a strategy of rapid industrialization, nationalization of key industries, and an expansion of social services, while also emphasizing nationalism and pride in Iran’s ancient heritage. These reforms aimed to modernize the Iranian state and economy, but the execution and outcomes of these policies were not without controversy.
Nationalization and Economic Reforms
A cornerstone of the Shah’s economic strategy during the White Revolution was the nationalization of Iran’s natural resources, particularly its oil industry. Prior to this, foreign companies, mainly from the United States and Britain, had significant control over Iran’s oil sector, extracting vast profits while leaving the country with minimal economic benefits. By nationalizing the oil industry, the Shah sought to retain a larger share of the oil revenue for Iran and use these funds to finance the country’s modernization projects. The nationalization was part of a broader push to assert Iran’s sovereignty over its resources and reduce foreign influence, thus fostering a more independent economy.