Comment: It's a country in learning mode. They are

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reedr3v's picture

It's a country in learning mode. They are

still playing out the Socialist belief that corrupt private interests are the primary culprit and that a benign, noble, purely motivated centralized government can put it all to rights.

And in a little country such as Iceland they have a better shot at making it work to some degree than larger, less homogeneous countries. After all, not every country must seek a high economic standard of living. Some cultures may prefer lower expectations overall, with more level distribution of rewards. If they had the wisdom to allow their programs to be voluntary with no consequence opt out, they could shorten the learning curve a lot.