Tuesday, May 08, 2012

Iceland: grandiosity fueled collapse to profound recovery

Iceland weathered an economic collapse (generated by delusions of economic grandeur, something like what hits rookie day traders on a national scale) through: "external assistance, debt repudiation, currency depreciation and capital controls." (from the second link below).

The U.S. could learn from Iceland's recovery and sensible economists could use the example to refute the nuttiness of Right wing austerity (for its own sake?) advocates.



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