Loud

Probably my last comment on this matter, it hasn’t appeared in the freakonomics comments thread as of this writing but here it is:

I’d like to take the time here to point out some of the points of agreement between myself and Bjarki.

Namely, that Iceland’s current situation where our economy is markedly worse off than the European average (dramatically higher interest rates and price inflation, amongst other things) is something that our ruling parties could have avoided and in many ways is due to their folly.

Also the point that we need to work on industries that produce things of value instead of just shuffling paper around is something I heartily agree with, especially in light of the ongoing disaster that is our financial sector.

We disagree on heavy industry, not as zealots or idealists, but because we simply assess the gains versus losses the industry offers Iceland as a nation and as an economy in different ways. I think other export industries such as software, media and design could offer the economy much more for much less investment and much less environmental damage.

I’d guess that Bjarki would say that it isn’t an either/or situation, we could do both, and the truth probably lies somewhere in the middle.

My feeling hinges on a simple fact. Heavy industry isn’t aspirational. If we are to have any sort of ambition as a nation we need to aim much higher than just becoming a cheap place to process energy intensive basic commodities.

Addendum: I feel like I’ve had this debate a thousand times with almost every single Icelander I’ve met who isn’t in the media or software industry.

I think I’ll just have to accept that most of the rest of Iceland disagrees with me and the surge of heavy industry in Iceland will continue unabated and unopposed.