[LINK] Iceland's Boom

[rfmcdonald]

Newsweek's typically glib and superficial coverage of Iceland's recent economic boom, "The Icemen Cometh," does raise an interesting question: Why are small dependent insular and quasi-insular economies doing so well of late? Ireland, Singapore, Mauritius, arguably the French overseas territories, the Alands, Cyprus, Malta, Iceland: All of these islands have traditionally been impoverished, but in the past generation they've been booming. What gives?