Can a Hedge-Fund Island Lose Its Shirt and Gain Its Soul?

Rebecca Solnit’s article on Iceland’s collapse is worth reading. It includes the following:

“Since then, the media and others seem to have forgotten that the body in question was declared terminally ill and have focused instead on how to provide very expensive first aid for it. This avoids the question of what the alternatives might be, which this time around are not anything as one-size-fits-all and doctrinaire as old-school socialism, but a host of existing localized, grassroots, and mostly small-scale modes of making goods, providing services, and serving communities — and remaining accountable.”

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