After Obama was elected there was a lot of talk on the right about revolution, and taking the country back. They were afraid the socialists would take away their freedom and to counter that they proposed Neoliberal economic policies.
According to Wikopedia "Neoliberalism is an approach driven by the market for economic and social policy based on neoclassical theories of economics that emphasizes the efficiency of private enterprise, liberalized trade and relatively open markets, and therefore seeks to maximize the role of the private sector in determining the political and economic priorities of the country."
"Neoliberalism seeks to transfer control of the economy from public to the private sector,[3] under the belief that it will produce a more efficient government and improve the economic health of the nation."
"Iceland began implementing neoliberal economic policies beginning in the late 1980s. As measured by the Economic Freedom of the World, it had the 53rd "freest economy" in 1975 and it was one of the poorest countries in Europe. In 2004, it had the 9th freest economy and it was one of the richest.[57] However, by 2009, the country was bankrupt, a consequence that a number of observers have attributed directly to Iceland's adoption of neoliberal economic policies."
http://en.wikipedia.org/wiki/Neoliberal# Scandinavia
Iceland privatized their banks and began lending money over the internet at very cheap rates. Unfortunately it did that by borrowing the money. In 2003 Iceland's debt was equal to 200 times its GNP, but in 2007, it was 900 percent. In 2008 with the global economic collapse, the banks failed, the Kroner lost 85% of its value, and the nation of Iceland declared bankruptcy.
Europe wanted to take over Iceland's three and a half million Euro debt. In return they would require austerity measures that would mean each Icelandic citizen would have to pay 100 Euros a month (or about $130) for fifteen years, at 5.5% interest.
The people in Iceland didn't think it was fair that all of the citizens in the nation would be required to pay for their private bank's mistakes. They protested and held demonstrations and forced the government to resign. New elections in April 2009, resulted in a left-wing coalition which condemned the neoliberal economic system, and in a referendum in March 2010, 93% of the people voted against repayment of the debt.
The new government "launched civil and penal investigations into those responsible for the financial crisis. Interpol put out an international arrest warrant for the ex-president of Kaupthing, Sigurdur Einarsson, as the other bankers implicated in the crash fled the country."
Then the country did something extraordinary. The people with input from a thousand people over the internet drafted a new Constitution.
http://stjornlagarad.is/other_files/stjo...Here are some of the best parts:
Article 6.
Equal rights
We are all equal under the law and shall enjoy our human rights without discrimination, such as due to gender, age, genetic character, place of residence, economic status, disability, sexual orientation, race, color, opinions, political affiliation, religion, language, origin, ancestry and position in other respects.
Men and women shall enjoy equal rights in every respect.
Article 22.
Social rights
All shall be assured of the right to an adequate standard of living and social security.
All in such need shall be guaranteed a right by law to public social security and public assistance, such as due to unemployment, childbirth, old age, poverty, disability, illness, permanent impairment or similar circumstances.
Article 23.
Health services
All shall have the right to mental and physical health to the highest standard possible.
All shall by law have the right to an accessible, appropriate and adequate health service.
Article 24.
Education
All shall by law have the right to a general education according to their ability.
All subject to compulsory education shall be offered such education without charge.
Education shall be adjusted to the general ability of each individual and be in line with critical awareness of human rights, democratic rights and duties.
The people of Iceland used peaceful protest to overthrow their neoliberal government that had wrecked their economy and remade their entire government. That is what real revolution looks like!
http://www.nakedcapitalism.com/2011/10/i...This may be the wave of the future. People at Stanford created a web site where the people in Egypt can start to create their own new Constitution. By the time the revolutions of Arab Spring are done we may have half a dozen nations crafting new Constitutions.
Perhaps Greece, Italy, and the other countries that are being asked to undergo draconian austerity programs to repay their debts should use Iceland as a model? Maybe that is why the corporate media here doesn't talk much about Iceland.
http://www.truth-out.org/why-iceland-sho...In this country when Bush's neoliberal policies destroyed the economy, Bush bailed out the banks that caused it, but the people were not asked if they wanted to pay the bill for the bail out. The 1% controlled the government and the 99% didn't get to have any say in the decision.
When Bush doubled the national debt with two wars, tax cuts and Medicare giveaways to big pharma, he just put it on the credit card and he just added the $700 billion of TARP onto the bill. Now that the right wing has handed Obama the bill for their profligate policies, they are insisting that the 99% pay for the mistakes of the 1% who benefited from those policies.
Now the Occupy movement is protesting the unfairness of the entire economic and political system that benefits only the 1% but asks only the 99% to pay their bills. Perhaps it is time that the 1%, who controls all of the money, pay off the bill for their own bail outs with a financial transaction tax? What comes next? How about prosecuting our own bankers responsible for the economic collapse? How about re-writing our own constitution to bring back our democracy and restore the government to one Of, By and For the 99% instead of the corporations and the 1%, as our founders intended?