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The Chapters in this Volume

In: Preludes to the Icelandic Financial Crisis

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  • Gylfi Zoega

Abstract

The collapse of Iceland’s banking system in the autumn of 2008 became a symbol of the global credit crunch. This volume contains essays and reports that were written before the collapse. The chapters provide insights into how economists saw Iceland’s economy. Did they see the crash coming? Did they choose to ignore it? Clearly, economists do not work in a vacuum. The application of subjective judgement in the presence of social incentives can lead economists astray. Iceland’s close-knit society values loyalty and is not conducive to dissent. Economists from other countries may have to be recruited. This book is a case study of the economics profession prior to a collapse of a financial system.

Suggested Citation

  • Gylfi Zoega, 2011. "The Chapters in this Volume," Palgrave Macmillan Books, in: Robert Z. Aliber & Gylfi Zoega (ed.), Preludes to the Icelandic Financial Crisis, chapter 2, pages 13-25, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-30714-8_2
    DOI: 10.1057/9780230307148_2
    as

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