How Iceland’s Rugged Viking Heritage Helped Salvage Its Economy

The Nordic Nation Fought Back Against Its Creditors, Then Rebuilt Its Wrecked Banking System

What can we learn from the Vikings?

I usually write in this space about the economies of the Pacific Rim, and the lessons they hold for policymakers in the United States. But this year, Iceland, with its stunning beauty, is the place to go on vacation, and so I headed to the other side of the planet.

Settled by Vikings in the ninth century, Iceland was one of the first proto-democracies. Those Norse settlers held their rudimentary version of parliament, called the Alþing (Althing), at Thingviller, the rift where the North …

The Unintended Consequences of Extending Proposition 30

The Initiative That Helped Solve California's Budget Crisis Could Now Create a New One

In 2012 voters passed Proposition 30—an initiative to raise taxes and take state government finances out of crisis mode. However, the new taxes, primarily falling on the top income earners …

Parsimony, Be Gone

Political Economist Mark Blyth Says Austerity Is Not Our Friend

Austerity never works. This was the argument of Brown University political economist Mark Blyth, author of Austerity: The History of a Dangerous Idea, as he offered his perspective on economic …