Comments on: The Salmon School of Economics http://www.irishelection.com/2007/10/the-salmon-school-of-economics/ Coverage of Irish Politics, News and Current Affairs Thu, 09 Sep 2010 08:15:22 +0100 http://wordpress.org/?v=2.9.2 hourly 1 By: Area report http://www.irishelection.com/2007/10/the-salmon-school-of-economics/comment-page-1/#comment-60504 Area report Tue, 20 Nov 2007 11:48:59 +0000 http://www.irishelection.com/10/the-salmon-school-of-economics/#comment-60504 I completely agree with your analysis of the situation. Mr McWilliams has missed the point somewhat by failing to highlight the actual skills etc that are required. Perhaps he should concentrate on this before making any more staements of this ilk. I completely agree with your analysis of the situation. Mr McWilliams has missed the point somewhat by failing to highlight the actual skills etc that are required. Perhaps he should concentrate on this before making any more staements of this ilk.

]]> By: Conor McCabe http://www.irishelection.com/2007/10/the-salmon-school-of-economics/comment-page-1/#comment-56917 Conor McCabe Tue, 02 Oct 2007 20:27:35 +0000 http://www.irishelection.com/10/the-salmon-school-of-economics/#comment-56917 I didn't see the show but do I take it that David McWilliams' big idea for the future of Ireland is to ask somebody else to think of something. I mean, he doesn't seem to say what exactly the diaspora is going to do. He seems to be hoping they'll think of something when they get here, coming as they do from the Irish who were smart enough to get the hell out in the first place. I didn’t see the show but do I take it that David McWilliams’ big idea for the future of Ireland is to ask somebody else to think of something. I mean, he doesn’t seem to say what exactly the diaspora is going to do. He seems to be hoping they’ll think of something when they get here, coming as they do from the Irish who were smart enough to get the hell out in the first place.

]]> By: P O'Neill http://www.irishelection.com/2007/10/the-salmon-school-of-economics/comment-page-1/#comment-56890 P O'Neill Tue, 02 Oct 2007 16:20:20 +0000 http://www.irishelection.com/10/the-salmon-school-of-economics/#comment-56890 This is a huge issue. You rightly identify the plus ca change aspect of it. One particularly striking thing is the relative weakness of the indigenous business sector. We have this dualistic economy where a huge percentage of GDP is coming from a few multinationals but then there's a fairly traditional home-grown business sector that has been far less dynamic. To me this is where our dysfunctional politics comes into play. The gains from "rent-seeking" are still far too high relative to engaging in true entrepreneurial activity. The fact that the State is still a massive trough is disguised by the Celtic Tiger years, but look at things like all the state jobs in the gift of the government. Ireland is not that big a place so to have hundreds of potential business people chasing all these appointments is a diversion of resources. Why start a business when Bertie can send a cushy Eurocrat job your way? Then there's the obsession with property investments. If I had a euro for all the gushing newspaper articles about the latest acquisition by Quinlan Private, I'd be rich enough to be an investor in Quinlan Private. But the deeper question should be why exactly is Quinlan Private able to mobilise hundreds of millions of euro to invest in prestige properties abroad. Not that there's anything wrong with that. But it indicates a perceived lack of good investments here at home. And of course Quinlan Private is just the big fish with all the little fish buying Bulgarian apartments sight unseen. In short, I think we could bring back all the salmon we want, and then they'd remember that their home was actually in the place where they came from. This is a huge issue. You rightly identify the plus ca change aspect of it. One particularly striking thing is the relative weakness of the indigenous business sector. We have this dualistic economy where a huge percentage of GDP is coming from a few multinationals but then there’s a fairly traditional home-grown business sector that has been far less dynamic. To me this is where our dysfunctional politics comes into play. The gains from “rent-seeking” are still far too high relative to engaging in true entrepreneurial activity. The fact that the State is still a massive trough is disguised by the Celtic Tiger years, but look at things like all the state jobs in the gift of the government. Ireland is not that big a place so to have hundreds of potential business people chasing all these appointments is a diversion of resources. Why start a business when Bertie can send a cushy Eurocrat job your way?

Then there’s the obsession with property investments. If I had a euro for all the gushing newspaper articles about the latest acquisition by Quinlan Private, I’d be rich enough to be an investor in Quinlan Private. But the deeper question should be why exactly is Quinlan Private able to mobilise hundreds of millions of euro to invest in prestige properties abroad. Not that there’s anything wrong with that. But it indicates a perceived lack of good investments here at home. And of course Quinlan Private is just the big fish with all the little fish buying Bulgarian apartments sight unseen.

In short, I think we could bring back all the salmon we want, and then they’d remember that their home was actually in the place where they came from.

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