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Iceland – The World’s First Open Economy?

Some of us working with The Free World Charter initiative believe that Iceland could be the perfect place to begin a money-free or gift economy. Here’s why:

  • The population is low at 300,000 making logistics easier, but also not too low to lack the required number of skills and human resources
  • The island is almost completely energy self-sufficient, and could easily fulfil its own energy needs, due to its abundance of geothermal and hydro-electric power
  • Iceland has a strong sense of community, and a culture of overcoming challenges
  • Its isolated location and sea borders offer sufficient protection and a ‘buffer-zone’ against those who would seek to plunder community resources for personal gain outside the country
  • Iceland’s natural beauty offers not just huge inspiration to other countries, but also has fostered a strong culture of respect for nature among its citizens
  • Iceland’s people have a history of ‘doing things differently’, and pioneering new ideas in government and administration

While these ideas have been brought about by non-Icelanders, it is our hope to get enough support for the idea to at least start a conversation among the Icelandic people and authorities. it is our hope that they may see the value in pioneering a money-free cooperative community and become an example for the rest of the world, showing that a future world beyond money and hierarchical rule is not only possible but highly desirable.

1. While we admit that Iceland could never be fully self-sufficient and will always require a certain amount of skills and resources from outside, we would hope that other countries would support Iceland’s endeavours. Of course there’s no guarantee this will happen, but it seems reasonable to assume that, given humanity’s natural desire to contribute and the positive, daring nature of the proposal that other countries would offer assistance.

2. Since Iceland may become vulnerable to exploitation and unable to defend its territory in the event of such attempts, it may be possible to contrive external protection of its borders through some UN decree which would grant Iceland a ‘protected’ money-free status. This ‘money-free’ status could then also be applied to other countries who wished to follow Iceland’s example.

3. As of writing, all of this is pure speculation and is not founded on any established fact or current debate. This projects aims to highlight and garner support for the idea, in order to begin a conversation on the idea.

If you would like to support this idea, then please join our Facebook page at:


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Colin R. Turner is a writer, broadcaster and founder of The Free World Charter, an initiative which proposes an alternative society beyond the use of money.

Source: Freeworlder Blog

Published in Blog


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