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Why Iceland is not in the news
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PMM
PMM
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Re: Why Iceland is not in the news
Nov 20, 2011, 21:10
I think the basic premise is sound, but it's sloppily written.

Apart from the errors I pointed out above, the author states that In 2003 Iceland’s debt was equal to 200 times its GNP, but in 2007, it was 900 percent.

This is utter bollocks. Effectively, she's saying the debt "rose" from 200 times GNP to 9 times GNP.

Jared Diamond's book, Collapse, deals extensively with the agrarian collapse of...

Greenland, not Iceland.

Iceland was only colonised for the first time in 874CE. That leaves just 26 years for Icelandic society to grow to a point where it could suffer a 9th century collapse.

I can see what the author is trying to say, but I've posted this elsewhere, on less sympathetic forums, and I wish I'd taken the time to read it more carefully before I did so.

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