Resilience to Shrinking and Social Capability. The case of Iceland, 1870-present
This thesis assesses the role of social capabilities in the development of Iceland’s economy in 1870-2019. Throughout the period, economic shrinking gradually decreased in the country. The paper argues that a lower frequency of shrinking resulted in better economic performance and that these changes are due to increased resilience to shrinking, provided by the build-up of social capability. By ana