Governance: An international journal of policy, administration and institutions

Iceland’s crisis

In the current issue of Governance (24.1, January 2011), Herman Schwartz reviews three books that examine Iceland’s “catastrophic” financial crisis.  Iceland suffered from crony capitalism, says Schwartz: “close connections between politicians and business groups created both the underlying and proximate conditions” for the breakdown.  “Iceland came late to the global party, drank too quickly, and hit the floor rather harder than larger economies.”  Free access to this article until January 31.

Image: Riot police guard the Iceland parliament during an October 2010 protest.

Written by Governance

January 27, 2011 at 9:16 am

Posted in Current issue

Tagged with ,