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Ship of Fools: How Stupidity and Corruption…

Ship of Fools: How Stupidity and Corruption Sank the Celtic Tiger

by Fintan O'Toole

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A savage, jaw dropping indictment of the way so many in Ireland were complicit in the mass property scam and how its roots run deep in Irish political traditions. Less sound economically however, it is amazing that an account of this period and these events gets half way through before the euro is mentioned. ( )
  JohnPhelan | Nov 9, 2015 |
Obvious to most, the Celtic Tiger was being proped up by hopeful thinking and wistful dreams. This is a look at some of the major footsteps taken to bring Ireland to the brink of ruin and how really the only change has been to the players, not to the game. It's both a depressing and a hopeful book, hopeful that this won't continue but I fear it will. ( )
  wyvernfriend | Apr 14, 2010 |
  HarvReviewer | Feb 23, 2010 |
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Amazon.com Product Description (ISBN 0571252680, Paperback)

Between 1995 and 2007, the Republic of Ireland was the worldwide model of successful adaptation to economic globalisation. The success story was phenomenal: a doubling of the workforce; a massive growth in exports; a GDP that was substantially above the EU average. Ireland became the world's largest exporter of software and manufactured the world's supply of Viagra. The factors that made it possible for Ireland to become prosperous - progressive social change, solidarity, major State investment in education, and the critical role of the EU - were largely ignored as too sharply at odds with the dominant free market ideology. The Irish boom was shaped instead into a simplistic moral tale of the little country that discovered low taxes and small government and prospered as a result. There were two big problems. Ireland acquired a hyper-capitalist economy on the back of a corrupt, dysfunctional political system. And the business class saw the influx of wealth as an opportunity to make money out of property. Aided by corrupt planning and funded by poorly regulated banks, an unsustainable property-led boom gradually consumed the Celtic Tiger. This is, as Fintan O'Toole writes, 'a good old-fashioned jeremiad about the bastards who got us into this mess'. It is an entertaining, passionate story of one of the most ignominious economic reversals in recent history.

(retrieved from Amazon Thu, 12 Mar 2015 18:25:47 -0400)

Between 1995 and 2007, the Republic of Ireland was a worldwide model of successful adaptation to economic globalization - then the bubble burst. Fintan O'Toole presents a passionate account of how things went wrong, focusing on corrupt planning and poorly regulated banks.… (more)

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An edition of this book was published by PublicAffairs.

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