Friday, December 4, 2020

Ireland - From Developing Country to One of the Richest in 100 Years

After hundreds of years of being under the thumb of the imperialist/colonialist neighbor,  Ireland in 1957 shifted from a proto-communist model to a property capitalistic model. Once the "sick man of Europe," the Tallaght Strategy changed the country's economic trajectory. 

Fast forward to just a few years ago, the Republic of Ireland is an unlikely pick for an EU economic and political maverick. A nation of fewer than 5 million people, it was one of the hardest hit by the 2008 global financial crisis. But the country has managed to grow its economy at rates well above the EU average (and on par with the People's Republic of China, in some areas) and went through several landmark cultural transformations that brought it closer to its European neighbors. So, how did Ireland do it?

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