I think it's interesting and good that Iceland is doing this. But the first thing I wonder is how many people does it affect?
Some perspective:
Iceland's population is about 320,000.
Iceland has 103,000 square kilometers, roughly the size of Kentucky, or a bit less than a third the size of Germany.
Their GDP is about $12 billion (per capita $36,000). The smallest GDP among US states is Vermont at $26.4B (but then Vermont has about twice the number of people). A bit less than Jamaica (though Jamaica has 2.8 million people).
[For what it's worth, I'm descended from Icelanders and have twice visited there. I love it.]
Some perspective:
Iceland's population is about 320,000.
Iceland has 103,000 square kilometers, roughly the size of Kentucky, or a bit less than a third the size of Germany.
Their GDP is about $12 billion (per capita $36,000). The smallest GDP among US states is Vermont at $26.4B (but then Vermont has about twice the number of people). A bit less than Jamaica (though Jamaica has 2.8 million people).
[For what it's worth, I'm descended from Icelanders and have twice visited there. I love it.]