- #36
Art
So IBM is less economically proficient than the operation with a $2 million turnover and 2 employees with 40% annual growth using only revenue per employee as a measure. Evidently the size of an economy affects it's growth rate, the bigger it is the harder it is to have higher than average growth and so gross GDP cannot be ignored.mheslep said:Yes of course use per capita, otherwise one can draw a line around any group of countries you like and just add up GDP.
Or the heritage foundation simply likes to claim the most successful countries as their own Bear in mind Irish industry and commerce is governed by EU law with major economic tools such as interest rates and borrowing levels determined by the EU central bank! Also of course many of the regulations governing how commerce and industry is run emanate from EU directives.mheslep said:It is interesting Ireland comes up here as it was just took the highest http://www.heritage.org/Index/topten.cfm" ranking of all EU countries, i.e. its the most Laissez Faire in the EU. Ireland is indeed booming; its GDP is 40% greater than the four big European countries (i.e. France). I know I tried my best to help by means of Guinness purchases when I was there.
You are wrong; during the very austere times of the 80's Irish corporate tax rates were 0% for foreign investment rising to 10% after 10 years (though this was easily avoidable) so one could argue it was the increase in corporate rates that led to Ireland's economic growth. Though the true reasons were the ousting of the corrupt political elite of the day such as the prime minister Charles Haughey and his corrupt ministers. The fall out from that period of bribes and corruption is still continuing if you care to google on Mahon Tribunal. Back then Ireland truly practised economic self-interest with the rich creaming off every penny they could whilst the working class were left to fend for themselves on the basis of the working working class could subsidise the unemployed working class whilst the rich contributed absolutely nothing. Another major factor was membership of the EU which took a lot of the legislative powers away from the corrupt politicians thus limiting the damage they could do, whilst at the same time billions in EU structural funds were pumped into the economy (a socialist aid program). For a fat, ugly cow like Mary Harney to claim Ireland's economic success as an Irish political success is twisting the truth on it's head. Finally the collapse of influence of the ultra right-wing Catholic Church because of it's propensity for child molestation helped tremendously in creating a fairer society in Ireland.mheslep said:The current boom stems directly from drastic cuts in its corporate tax rate to 12.5%by 2003, far below the US (39%!) or the EU(31%!), and consequently foreign corporate investment is enormous. This of course greatly http://www.taxfoundation.org/news/show/175.html"Irish EU relatives, but hey good for the Irish:
No there is no such thing as free health care per se but when it is paid for out of the public purse it is considered free or if you wish to be pedantic free at point of use. I'm surprised the US has so much debate on uninsured people if they already have a national health system comparable to the European modelsmheslep said:First, per http://en.wikipedia.org/wiki/Health_care_in_the_Republic_of_Ireland#Private_health_insurance":
And any case there's no such thing as 'free' health care, the Irish pay for out it of taxes (income + VAT) as does anyone else with 'free health care. US also provides 'free' health care via medicaid / medicare / prescription drug benefit fiasco, etc.
Same in US.
Private health care in Ireland buys you a place at the front of the queue in a semi-private or private room in the same hospitals with the same treatment by the same doctors as those who go public. That is the danger in having a private health system running in tandem with a public health system as the public health system subsidises the private patients which is an area I believe urgently needs addressing.
Excellent. One of the major drivers behind inward investment in Ireland was the high level of education.mheslep said:Nice. Aside from Trinity College Dublin, how good is it?
http://www.idaireland.com/home/index.aspx?id=97The education system in Ireland is one of the best in the world according to the 2007 independent IMD World Competitiveness Report.
mheslep said:All told, I'd say there's a fair argument that the US is more socialist in policy than Ireland at the moment.
I doubt it but regardless it is irrelevant to the point of this discussion. Ecomomist is arguing all socialist programs are bad for growth and so I've provided an example of a country with a plethora of social programs doing very well. If you also wish to add the US to the side of the balance sheet of socialist countries doing well then that's fine by me.
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