Plumb Lines

March 5, 2009

Fish-based vs. Fantasy-based Economies

Filed under: Uncategorized — David Schaengold @ 9:06 am

This article on Iceland’s banking boom and bust is some of the most entertaining writing I’ve read all week. Icelanders forsook their dark oceans of fish for dark pools of liquidity, and nowhere did the financial crisis get crazier, or crash more disastrously.

Incidentally, Iceland seems to have a nearly ideal form of government:

The minister for business affairs is a philosopher. The finance minister is a veterinarian. The Central Bank governor is a poet.

David Schaengold


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