As one of the artist in residence in Reykjavik, I've been working to create an animated piece to project on the city walls at night. I chose to animate a dancing woman as the subject of my project. Her garb resembles that of the women during the Roaring 20's.
In many ways, I see Iceland as experiencing a similar period. Young people, without dependents or car or house loans, pour their weekday earnings into weekend-fancy. It's not uncommon for sweaty, beer soaked bars to be chock full of labels like Armani, Vero Mode, Prada, Marc Jacobs, or Fendi. Average Icelanders make their money in a variety of ways. The population has a 100% literacy rate and one of the longest average working hours in Scandinavia. The education and work ethic create a powerful mix, granting nearly endless opportunities to Icelandic individuals.
The small Atlantic island has their main export from the fishing industry -exporting cod to north america and Europe. Their biggest NET earnings come from their banking sector. Landsbanki's Icesave offers a 11% interest on normal savings accounts.