This article investigates the political role of social theories in contemporary Iran. It focuses, specifically, on how the 1979 Revolution marks a passage in Iranian political and social thought from political radicalism informed by Marxism to reformist liberalism inspired by local readings of Weber, Habermas, and Giddens. By investigating the writings of public intellectuals and political activists involved in Iran’s reform movement, the article traces their transformation from leftist revolutionary radicals to liberal proponents of free market, democracy, and religious pluralism. It will be argued that an inadequate understanding of economic issues underlies the political failings of this movement.