Also, Iceland has a wonderful story-telling tradition; the Sagas, which are some of the greatest literature of the Middle Ages (Egil's Saga, Hrafnakel's Saga, etc.). They are also a culture of tradition, since everyone can trace their lineage back to the settling of Iceland, so stories, art, and culture are more 'real' than perhaps in America, where we barely know our great-grandparents and all art is suspect. I think it's no surprise that so many great novelists come out of Scandinavia in general (and Iceland is in this orbit, if further away geographically). But of course, they enjoy fermented shark heads, so moving to Iceland isn't as easy as one might think!
I think we have a lot to learn from cultures like Iceland, however, and this article seems to pinpoint that.