The Celtic Tiger

Tech Central Station has a lot of good content today, including this article by Ben Powell on Ireland’s economic growth. Punch line:

Ireland’s successful formula for development for the past 15 years has been a reliance on market forces, lowered taxes, reduced trade barriers and reduced regulatory burdens. This simple, market-driven focus has created opportunities for citizens, industries and businesses – and the market has rewarded all amply. In the span of 15 years Ireland has become one of Europe’s most prosperous nations.

Yes. My experience with economic activity in Ireland has to do with US multinationals locating manufacturing facilities there, taking advantage of low tax rates, high education levels, and all of the other things that Ben mentions in his article. Their free-market approach has led to so much job creation in Ireland that there’s actually a reverse diaspora of Irish Americans returning to Ireland to live and work.