This paper is for my Econ/Fundamentals course where we thought of a guiding question
based on the movie “Inside Job” and researched our topic. We have been studying the
mortgage crisis and other aspects of the US and global economy. I researched Iceland and the factors that contributed to its economic downfall.
When Iceland decided to deregulate their financial system they ended up with a huge amount of debt and an increased unemployment rate. Initially many people were optimistic. Unfortunately, they forgot to account for ethics and trust. This economic deterioration can only teach us that we need a stronger system in place that holds countries and banks accountable. This study will display Iceland’s initial hope for deregulation and its eventual failure and what can be done to prevent it.
Please refer to my full paper: Econ