Ireland’s hurting
Ireland, the former Celtic Tiger gets bitten by the crisis. See NY Times (free registration may be required): The Irish Economy
View ArticleGDP vs. GNP
Gross Domestic Product (GDP) is the measure economists typically use to indicate the total size or value of economic production in an economy. There is a similar measure called Gross National Product...
View ArticleIreland: “Responsible” Policy Punishes Citizens for Bankers’ Sins
Poor Ireland. For some unknown reason, the Irish seem doomed to suffer under the misguided rule of others, despite being the source of great music, culture and a brew so good For centuries, the...
View ArticleAre Banks Necessary?
At first pass the question “Are banks necessary?” strikes a macroeconomist as absurd. Of course, we say. But what does the empirical record say? It actually happened in Ireland some 35-45 years ago....
View ArticleIceland Shows Banks Are Not Too Big To Fail
Few nations were hit harder initially by the financial crisis in 2008 than Iceland. It’s economy had grown rich around four very large (relative to Iceland) banks that were players in the big global...
View ArticleDavid McWilliams Explains Why Austerity Is Doomed In Europe
A very interesting video by an Irish economist explaining how the current reduce government spending (“austerity”) approach to the Eurozone debt and currency crisis is doomed to fail. It is doomed...
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