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Trivia Tidbit Of The Day: Part 194 -- Freer Economies Are Stronger Economies.
Ireland's Miraculous Half Decade-
Because of its small population, Ireland has a tiny GDP, relative to Germany and France and others, but check out the growth in recent years. And check out the Gross National Income per person (GNI).
Ireland went from the bottom of the barrel to second place in just five years. How'd they do it? Well, it's become part of the wealth-creating world. Relatively low taxes. Free markets and trade. And less government spending as a proportion of the economy.
More on this to come, soon.
Also, if you were wondering why the numbers don't quite match up, it's because of adjustments for inflation.
Source:
The World Bank.
Previous Trivia Tidbit: Texas Political Money.
Posted by Will Franklin · 23 October 2005 09:37 PM
Comments
Ireland has also caught on to deregulation, and has made a mission of educating its people, especially in technology. Much of their growth is due to successful entry into software and other computer-related industries.
Posted by: Ken McCracken at October 23, 2005 10:05 PM
Aren't currency fluctuations in there too?
Posted by: Tom Blumer at October 24, 2005 10:46 AM