It translates from the Icelandic as '
rationalisation'. Specifically, rationalisation of the education system.
Representatives of the Association of Local Authorities in Iceland (SÍS) recently met with Minister of Education Katrín Jakobsdóttir to examine the possibility of temporarily reducing the number of elementary school days as a rationalization method.....the idea is related to the so-called five-percent method, which has been discussed among local authorities recently. Municipal employees can then take ten additional days off per year in exchange for five percent lower salaries.
(via). I particularly like the use of the sly '
temporarily' in the first sentence. This is McKinsey grade euphemism. Dilbert got there before them of course...
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