The Celtic Tiger: Ireland's Economic Miracle Explained

Abstract

The success of the Irish economy is remarkable. After 80 years of relative decline, Ireland now has the fastest growing economy in the OECD and one of the fastest growing economies in the world. But how did this turnaround come about? What were the factors and policies that lead to it? Why has the economic growth not done more to lower unemployment and alleviate poverty? Will the economic boom continue? These and other issues are addressed in this account of Ireland's economic success. Paul Sweeney examines the important role economic policymakers played in turning around the economy, the role of investment in education and training, of foreign investment, of new forms of work, of partnership approaches to problems and other factors which helped to generate phenomenal growth rates. Sweeney also shows that it is not all good news. There remain serious problems yet to be addressed, such as the high numbers of the long-term unemployed, and in general a growing gap between the rich and poor. He demonstrates that some sectors of the Irish economy have not been lifted by the rising tide.

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