Studies the economic history of Iceland in order to explore sustainable development and its implications. Emphasizes renewable energy and commercial fishing, land use, and tourism from the twentieth century onward. Settled in the ninth century, over the course of a few hundred years of human activity the long– term equilibrium of the island was disrupted, causing severe environmental degradation. By the turn of the twentieth century, Iceland was one of the poorest countries in Europe. Over the last hundred years, Iceland transformed itself, making it a leader in the sustainable use of natural resources. Studies the process that brought about this transformation and focus on renewable energy and sustainable resource management.