Although I appreciate the brilliant contribution Joseph Stiglitz has made to economics, I still find it cringeworthy whenever I hear someone thank the flexible Icelandic currency for things “being better than they could have been”. It is sort of like thanking the arsonist for bringing a bucket of water to the fire he started himself. Stiglitz, speaking in [...]

A video recording of Joseph Stiglitz’ seminar at the University of Iceland can be watched here You might need to install the Microsoft Silverlight Player. It will only take a few moments.

Bankruptcy is ahead on the marketplace of ideas as far as solutions to the massive debt facing Icelandic households is concerned. A fortress around the households in Iceland promised by the government has turned out to be one around financial institutions. The latest news claim that the foreign creditors of Byr S&L are writing off a [...]

Stefan Snaevarr, an Icelandic professor in philosophy at the University of Lillehammer in Norway would be a strong contender if an award was handed out for the smartest blog in Iceland. Stefan was on the panel at the University of Iceland last week with Joseph Stiglitz. He was also in attendance when Milton Friedman visited Iceland [...]

Since I’ve been lambasting the media, I also think credit is due to Frettabladid which covered Joseph Stiglitz’ appearance at the University of Iceland brilliantly today. All the main points from the meeting are discussed and framed in such a manner that they are easily understood, and not just by economists.

I arrived ten minutes before the seminar today but it was packed like a rock concert. The room used for Joseph Stiglitz’ seminar at the University of Iceland was too small and soon it was very hot and airless. Maybe that is why MP Lilja Mosesdottir misunderstood Stiglitz’ recommendations towards loan reductions for Icelandic households. At [...]

Joseph Stiglitz on Silfur Egils from yesterday.

Just came back from Joseph Stiglitz’ seminar at the University of Iceland. The place was packed, so much that people had to stand and sit in every corner. Many were not even able to get inside. The press was there, as usual taking photos and newsreels for tonight’s evening news. Actually the photographers for the daily’s were [...]