This article is not up to the standards that we expect at HN. I personally agree that Iceland did the right thing, but this article lacks depth and fails to pr

This article is not up to the standards that we expect at HN. I personally agree that Iceland did the right thing, but this article lacks depth and fails to properly put the decisions and motivations in context. Iceland has 300k people. That is less than Brampton, Ontario, which the vast majority of the people on this board have never heard of. Iceland could take the risk and follow more libertarian economic advice, but what of the United States? One thousand times the people and the world reserve currency. Wasn't going to happen. Furthermore, Keynesian approaches may actually work, but part of the Keynesian model is for governments to reign in spending when tax receipts are high, which governments almost never do. But the economic right does have a point when they talk about the ever expanding deficits that end up undermining investor confidence, and that further debt for bailouts will do the same.