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Why did Iceland do so well?

From the crisis hit in 2008 until 2011 Iceland experienced the greatest income redistribution in Europe. It is common to think that cuts are needed to deal with economic crises. Iceland is an example of the opposite. Welfare works better than cuts, claim the researchers behind the report Welfare consequences of financial crises.
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Three people with different roles in the analysis and development of Iceland's welfare policies:

Professor Stefán Ólafsson, Minister of Social Affairs Eygló Harðardóttir and senior advisor and member of the Committee of Senior Officials at the Nordic Council of Ministers Ingi Valur Jóhannsson.

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