Oct. 30, 2008
Jon Last has a fascinating article at the Weekly Standard on the depressingly sad state of the Icelandic economy-which historically hasn't done all that bad ever since Erik the Red and his Viking cohorts settled the place a thousand or so years ago. As one might expect, inept government interventions and political posturing played very large roles in the collapse. I, for one, hope it gets better, given that Icelanders with no work or money are going to be looking for something to do. When someone descended from Vikings named "Magnusson" is looking for something to do, it's time for some people to get worried-yes, I'm talking to you Newfoundland, Scotland, Ireland, England, and Normandy.