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Article: Strong but not wild: outlook for the Irish economy; 'While the pace of growth is likely to be tamer than in the Celtic Tiger era, Irish economic prospects remain very positive' says Austin Hughes, Chief Economist, IIB Bank.(Economy)
- Article from:
- Accountancy Ireland
- Article date:
- December 1, 2004
- Author:
CopyrightCOPYRIGHT 2004 Institute of Chartered Accountants in Ireland. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Just over two hundred years ago, Thomas Malthus, an Anglican Minister, wrote an essay in which he predicted that the world's population would consistently grow faster than its food supply. This rather pessimistic conclusion lent critical support to Charles Darwin's theory of the survival of the fittest. It also caused economics to be christened 'the dismal science'.
I was reminded of Malthus work when I began to prepare this outlook for the Irish economy for a couple of related reasons. First of all, the exceptional performance of the Irish economy throughout the past ten years suggests it can be considered a 'winner' in Darwinian terms. In addition, the very ...