Bermuda triangle of competitiveness
The simplest way to tell the story is not always the right one. Forget the debate over lowering wages – our capital spending needs to rise
Ireland is a small open economy that sells lots of stuff to the rest of the world. The central fact of our economy is its size and its openness to the vagaries of the world economy. A simple rule to sell lots of stuff to the rest of the world might be to produce that stuff more cheaply than elsewhere. This is the central plank of competitiveness and the sort of thing we teach undergraduates...
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