Recommended Lecture: President Ólafur Grímsson of Iceland discusses resilience, a major economic crisis, and clean energy in “Iceland Bounces Back” [22:32]

Here is a link to the lecture.

The bulk of it starts 3:50 minutes in, if you want to skip the filler in the beginning.

Despite a name reminiscent of Disney movie villians, former President Grimsson seems like a kind, intelligent man, and this lecture is exceptionally interesting and important.

In 2008, there was a massive economic crisis collapsed the financial system in Iceland along with the rest of the world. Despite Iceland being a peaceful, stable nation, it was devastating to the social and democratic structure of the country.

He goes over several lessons that Iceland learned during this crisis, including:

  • The wide-scale, comprehensive political reforms that needed to be put in place
  • His choice to put the will of the people above the force of the financial market, despite pundit predictions
  • Clean energy and its importance in future investment in the country and as a guard against financial crisis
  • And much more. Seriously, just watch it!

In a situation like this, where his choices have been phenomonally successful, and the people have come away as the victor rather than the market, it’s incredibly important to learn from the past.

“If we react in the right way to this crisis, if we respect the will of the people, as well as using the opportunities that these new tools offer us, we can indeed go forward and strengthen our societies both as democracies, as communities, and as areas of economic prosperity.”

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