Island in the north Atlantic Ocean, ruled since 1944 by the Lýðveldið Ísland

Reference

Iceland - Wikipedia, the free encyclopedia
"Iceland (Icelandic: Ísland), officially called Republic of Iceland and sometimes its counterpart Lýðveldið Ísland in Icelandic (for example this is a part of the name of the Constitution of Iceland, Stjórnarskrá lýðveldisins Íslands), is a Nordic European island country in the North Atlantic Ocean, on the Mid-Atlantic Ridge. The country has a population of about 320,000 and a total area of 103,000 km². The capital and largest city is Reykjavík, with the surrounding areas in the southwestern region of the country being home to two-thirds of the country's population. Iceland is volcanically and geologically active. The interior mainly consists of a plateau characterised by sand fields, mountains and glaciers, while many glacial rivers flow to the sea through the lowlands. Iceland is warmed by the Gulf Stream and has a temperate climate despite a high latitude just outside the Arctic Circle. ..."

Measures of Freedom

Human Freedom Index [PDF], The Human Freedom Index 2016
2014: 8.22, Rank: 25, Personal Freedom: 9.38, Economic Freedom: 7.06, Democracy Index: 9.55
Iceland | Freedom House, Freedom in the World 2016
2016: Status: Free, Aggregate Score: 100, Political Rights: 1, Civil Liberties: 1
"A series of major strikes took place in Iceland during the year, and public and private employers struggled to reach agreements with unions about higher wages. Although the refugee crisis confronting Europe did not heavily affect Iceland, the issue of asylum dominated public dialogue in August and September, when the public launched an initiative to increase the government's annual quota for resettlement."
Level of Economic Freedom, Economic Freedom of the World
2014: 7.06, Rank: 76

Articles

Iceland Joins the Flat Tax Club [PDF], by Daniel Mitchell, Cato Institute Tax & Budget Bulletin, Feb 2007
"All these reforms have helped Iceland climb from 26th to 9th in the Economic Freedom of the World rankings between 1990 and today. ... According to the World Bank, Iceland is now one of the world's richest nations, ranking in the top 10 using either of two different methodologies. Unemployment in Iceland is almost nonexistent, dropping to less than 2 percent in 2006 ..."