I feel sometimes as I read this book that the IMF would really absolutely love it if everyone on the planet agreed that increased social spending negatively affects the government’s budgets and profits, and cutting on these social programs during times of economic worry is a necessary evil. However, as we can see from Iceland, it’s simply not always the case.
This might say something about how I feel about the U.S. but it blows my mind how much the Icelandic government actually paid attention to it’s citizens during an economic crisis instead of having officials in the government argue with each other on what should be done. It’d be nice to have my voice heard every now and then in regards to how the country should be run… It warmed my heart to see the people of Iceland maintain their health even during an economic crisis.
It also infuriates me that the IMF simply does not adapt it’s plans based on the country. Making cuts everywhere should not be the ‘go to’ strategy. Countries’ economies are complex and deserve at least some analysis before you go ahead and affect the lives of thousands of people.