Reading Part II of The Body Economics, I found Iceland’s situation to be particularly fascinating. As a native of the United States, it is difficult to imagine a civilian protest on the same scale as those that occurred in Iceland over the IMF-proposed plan. As stated in the reading, the Icelandic protests would equate to ten million people in the US gathering together in Washington, D.C.; this would be virtually impossible. It is also crazy to imagine the US government responding to protest the way the Icelandic government did. While it may be risky to allow a country’s entire population to vote democratically on an issue as vital as economic policy, I cannot think of a better way to represent the needs of everyone–not just those high up on the socioeconomic ladder. It is absurd that the whole population should have to pay for the mistakes made by the upper class. Iceland clearly made the right call, given the It would be wise for those opposed to deficit spending in times of economic recession–such as Iceland’s wealthy investors–to take another look and see that you not only have to spend money to make money, but to keep your population healthy and productive.
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