A critique of neo-mercantilist analyses of Icelandic political economy and crisis

Berry, David M, Belfrage, Claes and Bergmann, Eirikur (2015) A critique of neo-mercantilist analyses of Icelandic political economy and crisis. Capital and Class, 39 (3). pp. 515-536. ISSN 0309-8168

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Abstract

Iceland’s journey from rags to riches in the 20th century is related, in the dominant discourse, to its gaining independence in 1944. This discourse played a significant role in both the legitimation of the finance-dominated growth model in the 1990s and 2000s and in the latter’s defence as it came under scrutiny before its collapse in October 2008. It is therefore ironic – or perhaps, in some sense, logical – to find dominant analyses of the crisis arising from the neo-mercantilist tradition. Drawing on Marxist critiques of neo-mercantilism, we challenge these interventions and thus seek to redress the neglect of social struggle in the dominant discourse.

Item Type: Article
Keywords: Iceland, Political Economy, Crisis, Crash, Financialisation
Schools and Departments: School of Media, Film and Music > Media and Film
Subjects: H Social Sciences > HC Economic history and conditions
H Social Sciences > HG Finance > HG4501 Investment, capital formation, speculation
J Political Science > JN Political institutions (Europe) > JN7380 Iceland
Depositing User: David Berry
Date Deposited: 10 Nov 2015 14:32
Last Modified: 22 Mar 2017 11:33
URI: http://sro.sussex.ac.uk/id/eprint/57865

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