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Iceland’s Pots & Pans Revolution; Pragmatic, Everyday Revolutionaries part 1

The Poor Prole’s Almanac

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The Effects of Economic Growth on the Icelandic Public

In 1994, Iceland became a member of the European economic area agreement. The state authorities decided to spare investment by taxing individuals capital gains by 10 percent. Welfare benefits began to lag behind real income and flatter income tax rates with low tax on capital gains led to increased inequality and real income. Elliot: "Nothing like liberalizing your fishery is like not letting anyone catch fish"

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