The movie is based on the book Dreamland: A Self-Help Manual for a Frightened Nation by Andri Snær Magnason.

The documentary Dreamland addresses the question of whether Iceland should preserve its unspoiled, unique nature or whether the nation should build enormous dams to produce hydro-electric energy.

Through interviews with economists, psychologists, historians, poets, editors, and industry managers, the film delivers insight into different point of views.

The documentary illustrates the fact that fear is a powerful emotion and a way of controlling people.

It makes use of clips from the 2005 documentary Wira Pdika, about Bauxite mining in the Niyamgiri hills of Odisha, to emphasise the relationship of aluminium smelting in Iceland to exploitation elsewhere.