What Did Iceland Do Right? What Did Newfoundland Do Wrong?

Via the World History Blog, The Heeb Head compares the two islands:

The island of Newfoundland, like Iceland, is a relatively inhospitable island in the North Atlantic famed for its fish stocks. For most of the 20th century, though, the two island nations have gone in separate directions. Where Iceland smoothly developed into an independent state throughout the Great Depression and the Second World War, Newfoundland's economic collapse prompted Britain's suspension of its statehood and eventual annexation into Canada. Where Iceland's fisheries have been carefully and aggressively managed, Newfoundland's fisheries have been famously devastated. Where Iceland is one of the richest countries in the world, Newfoundland remains the second-poorest province in Canada.

Had you ever thought about this before? Me neither.

Comments

[martin]

I think Jared Diamond wrote about this in "Collapse."

[grkoutnik]

Geothermal energy sources.