Arctic Yearbook 2014 - Page 328

328 Arctic Yearbook 2014   be noted about these universities, is that they are all founded and overwhelmingly staffed by Icelanders with graduate credentials from leading universities of North America, Europe and various other parts of the World (Jónsson 1961; Háskóli Islands 2014). The Role of Brain Circulation in the Development of Icelandic Hydro- and Geothermal Power The renewable energy sector is the clearest example of how strong human capital has allowed Iceland to benefit from natural resources. Strong local human capital and the interaction with knowledge abroad, are leading throughout the history of Icelandic hydro and geothermal power. In the late 1800s, the world was gripped by the prospects of hydropower as an important resource fueling the energy-intensive high-tech industry of the day, namely nitrogen-based fertilizer. Icela