Reboot Republic - Rory Hearne by Tortoise Shack Media A booming economy & struggling society ?Ireland’s economy explained with Conor McCabe
Dec 20, 2025
Conor McCabe, a researcher known for his critical analysis of Ireland's political economy, delves into the complexities of the Irish economy. He questions the validity of the reported economic growth and explains how foreign direct investment does not represent the everyday experiences of most citizens. The conversation uncovers the impact of finance on housing policy, transforming it into a global asset class while eroding homeownership. McCabe argues for a state-led approach to housing and highlights the disconnect between economic statistics and real-life challenges.
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GDP Figures Are Misleading
- Ireland's headline GDP is heavily distorted by multinational accounting and asset shuffling.
- Conor McCabe calls it "leprechaun economics" and says GNI* is closer to reality but not used internationally.
Startups Are Built For Buyouts
- Ireland's startup ecosystem favors quick buyouts instead of building enduring indigenous firms.
- McCabe calls this a compradour middleman mentality that exports companies rather than growing national champions.
From Cattle To Companies Analogy
- McCabe recounts the shift from exporting cattle to exporting companies as Ireland's economic role.
- He uses the cattle-trade analogy to illustrate the long-standing intermediary/comprador pattern.