Iceland´s Financial and Economic Crisis : Causes, Consequences and Implications

This Policy Paper, written by Rok Spruk shows with great details that Iceland´s crisis was not caused by free market and economic freedom but rather by Iceland´s monetary policy.

Iceland was hit hard by the economic and financial crisis. Now, it has become common  to refer to Iceland as the ultimate example showing that a free market economy is not  to be trusted. 
This Policy Paper examines the causes of the Icelandic crisis. In fact, their free-market reforms lead to great prosperity and were not the cause of the depth of the crisis.

Slovenian economist Rok Spruk tells the real  story   of   Iceland’s   success   and   failure   in   a well-founded and straight-forward manner.