Saturday 21 January 2017

Why it's all too easy to sleepwalk into the next crash

Eoin O'Leary

Published 02/08/2015 | 02:30

'Our performance for four of the last five decades has been mediocre at best, with the Celtic Tiger period being the exception'
'Our performance for four of the last five decades has been mediocre at best, with the Celtic Tiger period being the exception'

It has recently been argued in these pages, that sooner or later Ireland will experience another crash. I would agree - and would argue that the lack of institutional reform since the most recent crisis would suggest that we are sleepwalking into the next crash.

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In my recent book on Irish economic development, I argue that "serial under-achievement" best describes Ireland's progress since 1970.

Our performance for four of the last five decades has been mediocre at best, with the Celtic Tiger period being the exception. One of the main causes of under-achievement has been the Irish policy mind-set which I liken to a split personality.

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