“In October 2008, the Icelandic banking sector collapsed. This momentous event was, relative to country size, the largest banking crisis ever suffered by a single state. Iceland’s recovery has been a case of democratic and ethical reforms. A 25-strong Constitutional Assembly re-wrote the constitution, together with a crowdsourcing effort which introduced thousands of comments and hundreds of concrete proposals from citizens directly into the legislative dialogue. Committed radicals could start making policy, rather than critiquing it.