I missed the programme on Monday night, Dan's unmeasured comment (ridiculous) on Tuesday's Prime Time prompted me look at the programme on the internet today. Definitely not ridiculous, more "why let the facts get in the way of a good story" sort of programme or an abstract of the totality of reality.
A few assumptions about the growing Chinese economy have to to be looked at. The main one is that the growth will continue at the same exponential rate for twenty years, this is not a reasonable assumption it has to taper off. We have to draw parallels with the growth of the Russian economy, communist background and no real understanding of the free market, Felicity was working in the IFSC when the Russian foreign minister singlehandedly destroyed the Russian economy with one well intentioned but naive speech. The communist party is still in control in China, this is not going to change and they can do as they please.
A few positive things about the Irish economy have to be mentioned, overall the number of people at work in Ireland will increase next year. Salary is not the only competitiveness factor, tax regime especially corporation tax is more important. Access to and support of the European Market and the Euro are also important, as well as political stability and accountability.
The notion that products must be made only of bits, widgets and goo is a falacy, computer programs are also products.
So what if the young are giving to the old. In previous eras everyone was handing taxes over to London, up to recently almost everyone in the population handed over money, land and buildings to the church. Least the old are spending the money their money here.
www.shayconway.org
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