Thanks to the Liberal Conspiracy I’ve come across the video that I’ve posted below of the Icelandic President (Olafur Ragnar Grimsson) being interviewed at Davos. He claims that Iceland’s recovery was largely due to their allowing banks to go bankrupt and by not following the standard orthodoxies of austerity, but instead providing support for the poor and unemployed. Their economy is now growing at about 3% and unemployment is low.
I’ve never heard of him before, but based on this video he seems to be a good example of what I think a politician should be. He seems to think in terms of what would be best for his country and its people, rather than simply thinking of how to protect big businesses and the wealthy. Admittedly, some of those who act to protect businesses and the wealthy believe that this will help everyone. The evidence for this is, however, slim. Anyway, I think the video is worth a watch and I wish more of our politicians were as sensible as he seems to be. Iceland is a small country with a small population, so maybe what worked for them wouldn’t work for us. However, our current policies don’t seem to be working either so trying something that has been proven to work makes more sense (to me at least) than sticking with something that is almost certainly not working.