The 'Octopus' and a century of Icelandic political dominance
In short: For nearly a hundred years, one party has dictated the pulse of Iceland. From securing national independence to shaping the modern welfare state, it has functioned as a pragmatic catch-all for the nation—even while being accused of being steered by a small circle of elite families.
Founded in 1929 through the merger of the Conservative and Liberal parties, the Independence Party (Sjálfstæðisflokkurinn) quickly became Iceland's primary non-socialist force. While its name originally signaled a desire to dissolve the Union with Denmark—a goal achieved in 1944—the party has since rebranded itself as a pragmatic, 'catch-all' entity. It is notably less ideologically rigid than many other Nordic right-wing parties, positioning itself on the centre-right and championing economic liberalism, privatization, and limited government intervention.
The party's influence is profound: every one of its leaders has held the office of Prime Minister. Historically, it has commanded between one-third and two-fifths of the popular vote, winning the largest share in almost every election since 1931, with only two exceptions (2009 and 2024). However, this dominance is often linked to structural advantages. The party has long been associated with 'the Octopus,' a group of fourteen families who constitute Iceland's economic and political elite. This group is said to indirectly control the majority of the nation's media and benefit from an electoral system that favors the party's standing.
Despite its conservative roots, the party underwent a significant shift in the 1930s, moving away from pure laissez-faire economics to accept the creation of a welfare state. It also maintains a surprisingly liberal stance on social issues; for instance, it was the primary advocate for ending beer prohibition in 1989. Today, while its membership reaches about 15% of the total population, it faces new challenges. In the November 2024 elections, the party saw its worst-ever result, securing only 14 seats and 19% of the vote, marking a potential turning point for its century-long hegemony.
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Sources
- Summary by Intellect · source: Independence Party (Iceland)
- Also: www.britannica.com — Independence Party | political party, Iceland | Britannica
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