[LINK] Re: OFF TOPIC Re: the rich and corporate parasites

Deus Ex Machina vicc@cia.com.au
Wed, 26 Feb 2003 12:22:48 +1100

Chris Maltby [chris@sw.oz.au] wrote:
> On Wed, Feb 26, 2003 at 08:00:38AM +1100, Deus Ex Machina wrote:
> > (as if its not a tautology) the irish case clearly shows that business
> > is the driving force behind the economy.  Ireland halved its tax rates
> > more or less and more or less doubled its tax income.
> The Irish case is a classic example of not including externalities.
> The extra revenue came from companies relocating their incorporation
> to Ireland to take advantage of the lower tax rates. Some of that
> turned into increased economic activity, but some of it was just
> tax avoidance in another jurisdiction...
> In another version of the story it's called "the tragedy of the commons".

"blaming" the irish economic miracle on foreign investment is only part of the picture


it cant be understressed that unemployment went from 16% to under 5%, I dont see
how that is a tragedy, further by investing in higher education ireland has/is creating
an infinite resource of intelectual capital. contrast with australia with HECS and
its mentality of being a farm and a quarry. our government is too busy proping
up a ill functioning health care system and subsidising private health insurance to worry
about creating free education.