Our little island is floating in a sea of indecisiveness
NO man is an island, wrote the poet John Donne. Less poetically, in these days of global financial integration, not even an island is an island. As we are discovering all too painfully.
The process of discovery has been slow. When Ireland was a small closed economy, theories about small open ones had not been much developed. Possibly there weren't enough such economies back then to make the research effort worthwhile.
It took quite a long time after Ireland opened up in the 1960s for the implications of being an SOE to be addressed. To some extent, though, they still haven't been.