I was intrigued by what is happening in Iceland, so the following is a piece I've written on it. It has some introductory macro-economics in it,  which I think it is good to keep in perspective as we consider the frantic attempts being made to
prevent an economic depression.
Not exact matches
The government's actions to avoid financial collapse last fall — as distasteful and unfair as some undoubtedly were — were unfortunately necessary to
prevent a global
economic catastrophe that could have rivaled the Great
Depression in length and severity, with profound consequences for our economy and society.
Another issue is that despite the links between poor physical and poor mental health, little
economic analysis has focused on the
economic case for
preventing co-morbidity, for instance on the prevention of
depression to promote cardiovascular health.