The large print giveth and the small print taketh away
Stephen Kinsella: A hard look at the reality of domestic demand and employment reveals why people aren’t feeling a recovery in their pockets
What do Hong Kong, Luxembourg, the Seychelles, Hungary, and Ireland have in common? They all export more than 100 per cent of their gross domestic product. This really matters for our little island. It matters for political stability and it also matters when explaining why the people on the street don’t feel the same recovery that the statistics are showing us.
The main measure of growth is gross domestic product. This is increasing at a...
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