Unhedged How Ireland got too much money
15 snips
Sep 12, 2024 
David McWilliams, a renowned Irish economist and the founder of Kilconomics Festival, dives into Ireland's remarkable economic transformation. Once facing emigration, the country now thrives as a corporate tax haven for giants like Apple and Google, boasting an €8bn surplus. McWilliams discusses how to effectively manage this financial windfall while addressing the struggles of small businesses overshadowed by multinationals. The conversation also touches on the historical ties between humanity and money, setting the stage for Ireland's future financial strategies.
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Ireland's Surplus Problem
- Ireland faces a unique economic challenge: a surplus of money due to corporate tax revenue.
- This stems from attracting American multinationals with low tax rates, aiming to access the vast European market.
Investment Dilemma
- Ireland needs to invest in housing and infrastructure to address its current issues.
- Economists, however, worry about overheating the economy and causing inflation.
Ireland's Economic Transformation
- Ireland has transformed from a capital-poor, emigration-heavy country to one with excess capital and attracting migrants.
- This shift is attributed to attracting American multinationals and benefiting from Brexit.
