The economy isn’t overheating right now. But we do need to put additional resources into capital spending and construction

The economy isn’t overheating right now. But we do need to put additional resources into capital spending and construction

Stephen Kinsella argues that Ireland can take a boom in construction to avoid a bust everywhere else

Three times. As a nation we have gone broke three times since 1950. The worst episode was, of course, in 2007/8, and we are still recovering in many ways. Ireland tends to boom and bust far more than other small open economies of its size and level of development. From 1960 to today we have had seven cycles of boom and bust. We’re currently in the boom part of cycle number eight. And yet when we boom, we really boom. Ireland has ranked number one for economic growth across Europe in 13 of the past 20 years. We’ll get to why in a minute.

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