The Irish Economy Today: Albatross or Phoenix?

Abstract

In 2001 the policy issues facing Ireland were very different than they are today. Growth had surpassed expectations and the high level of unemployment of the 1980s and early 1990s had been eliminated. Instead of emigration, Ireland was experiencing steady immigration as Irish emigrants of the 1980s returned and as skilled foreigners came to bolster the human capital of the work force. The economy and society reflected this turnaround with the population as a whole seeing a reward in terms of an increasing standard of living. However, Ireland had outgrown its clothes as the rapidly rising population and labour force put increasing pressure on a creaking private and public infrastructure. When I spoke here a decade ago it was this latter issue which was the focus of my paper.