“Money Smell” in Iceland, Friday 26 October: 3–4.45 pm

Professor Hannes H. Gissurarson gives a lecture Friday 26 October 2012 on “What Political Economy Can Tell Us About Money Smell”. The lecture is a part of a programme, The Nation in a Mirror, organised by the School of Social Sciences at the University of Iceland, about research conducted at the School. Professor Gissurarson’s lecture is also a part of a research project he is leading on “Environmental Protection, Property Rights, and Natural Resources”. He will analyse the so-called “money smell”, the very strong smell from Icelandic fish processing plants in small fishing villages in the past, called money smell because the plants provided much-coveted jobs; going on to discuss the broader relevance of two different approaches to environmental problems, those of Arthur C. Pigou and Ronald N. Coase.

The lecture is in a seminar in Room HT-300, 15–16.45, with Dr. Sveinn Agnarsson, Director of the Economic Research Institute at the University of Iceland, in the chair. While the seminar is held by the School of Social Sciences, Gissurarson’s lecture forms a part of the project “Europe, Iceland and the Future of Capitalism”, jointly organised by RNH and AECR, the Alliance of European Conservatives and Reformists.

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The Media Bias Against the US, Monday 15 October: 12–13

The next event planned by RNH is a talk by Norwegian journalist Jan Arild Snoen Monday 15 October on the European Media Bias Against the US, in meeting room O-201 in Oddi, the Social Science House, at the University of Iceland, at lunchtime, 12–13. Snoen argues that much of the coverage of Americans and their culture in European media betrays ignorance and a lack of understanding and sympathy with the subject matter. This event is co-sponsored by the IABF, the Icelandic-American Business Forum. The chairman of the Forum, financial analyst Jeffrey B. Sussman, will chair the meeting.

Jan Arild Snoen, born in 1964, works for the liberal-conservative Internet journal Minerva and has published an unauthorised biography of right-wing populist politician Carl Hagen, and a defense of globalisation. He is vice-chairman of the Monticello Society which seeks to improve relations between Norway and the United States. His wife, Ellen Christiansen, has been a member of parliament for the Conservative Party. Snoen’s lecture is a part of the project “Europe, Iceland and the Future of Capitalism”, jointly organised by RNH and AECR, the Alliance of European Conservatives and Reformists.

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Hannes H. Gissurarson: Iceland a Normal Nordic Country

Professor Hannes H. Gissurarson read a paper on “Poverty in Iceland 1991–2004” at a meeting of the Association of Icelandic Historians 9 October 2012. There he analysed claims by Professor Stefan Olafsson that poverty had been more extensive in Iceland in 2003 than in the other Nordic countries, and that the distribution of income had become more uneven in Iceland in 2004 than in the other Nordic countries. He argued that neither claim was true. In fact, a survey made by the statistical office of the European Union and published in February 2007 showed that (relative) poverty was less in Iceland in 2003 than in any other European country with the exception of Sweden, and that the distribution of income in Iceland was in 2004 similar to that in the other Nordic countries. Professor Gissurarson argued, however, that the most important task was not to facilitate poverty, but to create opportunities to get out of it. His paper is available here on Youtube.

Gissurarson Slides 9.10.2012

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Poverty in Iceland, Tuesday 9 October: 12–13

Tuesday 9 October 2012 the Association of Icelandic Historians holds a lunchtime meeting where Professor Hannes H. Gissurarson of the Politics Department of the University of Iceland will discuss “Poverty in Iceland 1991–2004”. The meeting takes place at the National Museum of Iceland lecture hall from 12.05 to 13.00. It has frequently been asserted, in particular before the 2003 and 2007 parliamentary elections that poverty  increased in Iceland in the 1990s and early 2000s despite much economic growth. It was even said that poverty was more prevalent here than in the other Nordic countries. But how is poverty to be defined? Is it the lack of necessities, as traditionally conceived? Or is it the counterpart to wealth, as Hegel and some other philosophers maintain? What do measurements of poverty in Iceland in 1991–2004 show? These questions will be answered by looking at the evidence presented by the Icelandic Statistical Bureau and the EU Statistical Bureau and also at surveys conducted by the Social Science Research Institute at the University of Iceland. While the meeting is held by the Association of Icelandic Historians, it forms part of the project “Europe, Iceland and the Future of Capitalism”, jointly organised by RNH and AECR, the Alliance of European Conservatives and Reformists.

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International Experts: Iceland’s Fisheries Efficient

Professor Thrainn Eggertsson

RNH organised an international  conference on “Fisheries: Sustainable and Profitable” Saturday 6 October 2012 at the University of Iceland, a part of the joint RNH-AECR project “Europe, Iceland and the Future of Capitalism”. Keynote speakers included the chief fisheries specialists of FAO, OECD and the World Bank, and three Icelandic internationally renowned specialists on fisheries: Arni Mathiesen, FAO, Gunnar Haraldsson, OECD, and Michael Arbuckle, World Bank, and Professors Ragnar Arnason, Rognvaldur Hannesson and Thrainn Eggertsson. Brian Carney, a member of the editorial board of the Wall Street Journal, and Dr. Michael De Alessi, an expert on marine technology, also participated in the programme. Mrs. Rakel Olsen who runs a a fishing company in Stykkisholmur opened the conference, and it was closed by Mrs. Gudrun Larusdottir who runs a fishing company in Hafnarfjordur. More information about the programme is here, and about the participants here.

Professor Ragnar Arnason. Photo Omar Oskarsson.

Thrainn Eggertsson tried, in his paper, to explain the opposition to the very successful and efficient Icelandic ITQ (individual tradable quota) system in the fisheries. He distinguished between the ideologists and materialists in the opposition and argued that the collapse of the banking sector in 2008 had rejuvenated the resentment of the wealth generated in the fisheries. Ragnar Arnason presented evidence and arguments  to the effect that the whole Icelandic nation benefited in many indirect ways from profitable fisheries, even if the holders of ITQs were not too numerous. About half the rent captured in the fisheries ended up with government already, in one way or another. Rognvaldur Hannesson and the other lecturers at the conference all agreed that an ITQ system like the present one in the Icelandic fisheries was the best solution in Iceland, while other kinds of system might apply elsewhere, for example TURFs, territorial use rights in fisheries.

In the audience: Dr. Asgeir Jonsson (partly seen), Professor Birgir Thor Runolfsson, Arni Mathiesen, former Fisheries Minister, Rakel Olsen, fishing vessel owner. Farthest to right in 2nd row: Professor Thorolfur Thorlindsson. Photo: Haraldur Gudjonsson.

The conference was well-attended and generated much media attention. Morgunbladid printed an interview 6 October with two of the lecturers, Dr. Gunnar Haraldsson and Professor Thrainn Eggertsson, who lamented the changes which the present Icelandic government is trying to force through on the well-functioning system of ITQs (individual transferable quotas) in the Icelandic fisheries. That same evening, Thrainn Eggertsson also appeared in the newshour of the television station, Stod tvo. Brian Carney wrote an editorial in the Wall Street Journal 9 October on the political threat to the ITQ system. He considered it almost suicidal if the present Icelandic government would for populist reasons impose inefficient changes on the system which had contributed so much to Iceland’s recovery. Morgunbladid printed an interview 11 October with Professor Ragnar Arnason and an interview 12 October with Professor Rognvaldur Hannesson who said that one should not kill the goose that laid the eggs of gold, as seemed to be the intention of the present Icelandic government. Vidskiptabladid also gave 13 October an account of of the conference.

Eggertsson Slides

Arnason Slides

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Fisheries Conference, Saturday 6 October: 13–17.35

Thrainn Eggertsson

The next RNH event is an international conference on “Fisheries: Sustainable and Profitable” Saturday 6 October 2012 at the University of Iceland. Keynote speakers include the fisheries specialists of FAO, OECD and the World Bank, and three Icelandic internationally renowned specialists on fisheries: Arni Mathiesen, FAO, Gunnar Haraldsson, OECD, and Michael Arbuckle, World Bank, and Professors Ragnar Arnason, Rognvaldur Hannesson and Thrainn Eggertsson. Brian Carney, editor of the Wall Street Journal Europe editorial page, will participate in the programme.

The conference will take place at Askja, the Natural Science House of the University of Iceland, in Conference Room N-132, start at 13 and end at 17.35. There will be one coffee-break and a reception after the conference, until 18.30. More information about the participants is here.

The programme is as follows:

13.00–13.05 Opening remarks. Mrs. Rakel Ólsen.

Former  Session: Theoretical Analysis

Chair: Mrs. Asta Moller, Institute of Public Policy and Politics

  • 13.05–13.35 Dr. Thrainn Eggertsson. The Threat to Institutions: Icelandic ITQs
  • 13.35–14.05 Dr. Ragnar Arnason. Fisheries Rent and Its Distributions
  • 14.05–14.35 Dr. Rognvaldur Hannesson. Using Market Forces in Fisheries
  • 14.35–14.50 Comments: Dr. Asgeir Jónsson og Dr. Birgir Thor Runolfsson
  • 14.50–15.05 Discussion
  • 15.05–15.20 Coffee Break

Later Session: Practical Issues

Chair: Dr. Stefania Oskarsdottir, Faculty of Politics

  • 15.20–15.50 Mr. Arni Mathiesen. Quota Systems for Small Communities
  • 15.50–16.20 Dr. Gunnar Haraldsson. Green Growth
  • 16.20–16.50 Mr. Michael Arbuckle. Quota Systems in Developing Countries
  • 16.50–17.05 Comments: Mr. Helgi A. Gretarsson og Mr. Michael De Alessi
  • 17.05–17.20 Discussion
  • 17.20–17.30 Summing Up: Mr. Brian Carney, The Wall Street Journal Europe
  • 17.30–17.35 Concluding Remarks: Mrs. Gudrun Larusdottir
  • 17.35–18.30 Reception

Admission is free and open to all. The conference forms a part of the project “Europe, Iceland and the Future of Capitalism”, organised jointly by RNH and AECR, the Alliance of European Conservatives and Reformists.

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