The Irish Miracle

Doug Henwood dhenwood at panix.com
Mon Jul 19 19:32:49 PDT 1999


Seth Ackerman wrote:


>Does someone want to comment on Martin Wolf's column in the Financial Times
>today about Ireland? The column is accompanied by a chart of Irish per
>capita GDP as a percentage of the UK's and of the OECD average. It's quite
>remarkable: from about 56% to about 102% of the OECD average between 1970
>and 1997. Ireland is now substantially richer than the UK.
>
>To the unschooled (like me) the Irish "miracle" seems to contradict the
>notion that successful development can't be done with the orthodox package
>of free trade, FDI, and "prudent" macro policies. Anyone else know better?

Wolf himself says:


>Ireland has prospered by offering investors a stable, profitable,
>English-speaking base for production aimed at the EU market.

How many of those are there?

Doug



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