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1 April 2000April 1, 2000

Le « miracle celte »

Economic Note (in French) on the economical straightening of Ireland

Le « miracle celte »

Since 1987, Ireland has unquestionably become the star of the international economic world. That was the year an administration devoted to lower taxes and responsible management of public finances came to power. It was also the year a sort of social consensus developed in favour of moderation in labour costs. John Bruton, Leader of the Opposition in Dublin, played a pivotal role in this epic turnaround. (He later addressed the Montreal Economic Institute.) Ireland is probably the most brilliant star in the economic firmament at the present time.

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Economic Note (in French) inspired by a chapter from the book Road to Growth: How Lagging Economies Become Prosperous by Fred McMahon.

Fred McMahon is Director, Centre for Trade & Globalization Studies at The Fraser Institute. He also manages the Economic Freedom of the World project. He received his MA in Economics from McGill University in Montreal. He has been policy director at the Toronto-based Consumer Policy Institute and senior policy analyst at the Atlantic Institute for Market Studies (AIMS), in Halifax, Nova Scotia. Mr. McMahon is the author of Looking the Gift Horse in the Mouth: The Impact of Federal Transfers on Atlantic Canada, which won the Sir Anthony Fisher International Memorial Award for advancing public policy debate, and Road to Growth: How Lagging Economies Become Prosperous. His book Retreat from Growth: Atlantic Canada and the Negative Sum Economy features an introduction by Nobel Laureate Robert Mundell.

Since 1987, Ireland has unquestionably become the star of the international economic world. That was the year an administration devoted to lower taxes and responsible management of public finances came to power. It was also the year a sort of social consensus developed in favour of moderation in labour costs. John Bruton, Leader of the Opposition in Dublin, played a pivotal role in this epic turnaround. (He later addressed the Montreal Economic Institute.) Ireland is probably the most brilliant star in the economic firmament at the present time.


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