Our policymakers need to imagine a different future
Our economic model is based on the idea that the future can be predicted by looking at the past but, as the coronavirus has shown, uncertainty should be built into policy
The growing international narrative of Ireland is one of leprechaun economics. It is not rational expert judgment that shapes how we respond to economic uncertainty, it is the stories we tell ourselves. Modern globalised economies are defined by indeterminacy, interconnectedness and deep uncertainty, so Irish policymakers need to create a different narrative.
The indeterminacy of the future is perfectly captured by the Covid-19 coronavirus. The OECD predicts the disease could halve global growth next year....
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Pat Rabbitte: Has Europe learned its lesson from the last crash?
The ECB responded to the last global recession by embarking on an austerity binge, but things are different this time
Brian Keegan: Latest Brexit row shows that changing borders has a price
A lack of any serious engagement with the economic consequences of Brexit means that further crises and flashpoints are inevitable
Aidan Regan: The great known unknowns of our corporate tax receipts
Most employed people know how much income tax they will pay next year, and this predictability gives certainty to the public finances. But that is not the case when it comes to multinationals
Comment: Why investment agreements like Ceta are worth pursuing for the EU
EU investors are at greater risk in third countries, so the rationale for making investment protection a pillar of our trade policy is clear