When one examines the historic past of Ireland it is evident that this once colonial appendage of Brittan has had its fair share of despair. Within just over a hundred years Ireland as a whole has suffered through numerous crises including two famines, oil crisis, religious conflict and economic wars. However, in the late 1990's Ireland's fortune appeared to make a drastic turn toward prosperity. After the tariff walls put up by De' Valera's economic protectionalism were torn down, Ireland became a magnet for foreign investment. This influx of foreign investment not only eradicated Ireland's immense amount of debt, but it allowed it's economy to grow to be one of the most powerful in the modern western world. This economic phenomenon came to be known as The Celtic Tiger as the rapid expansion of Ireland's economy brought growth rates similar to the so-called Tiger economies previously found in Asian countries.
[...] Since Ireland was part of the EU, foreign investors could bypass high tariffs, and collect their profit within Ireland under a lower tax bracket (O'Hearn, 2003). Another governmental policy which attracted foreign investment was the training of information technology specialists despite a low need for them within Ireland's dark economic period. This was beneficial to foreign investors since there was a surplus of skilled laborers within a country which was offering an unprecedented low level of corporate taxation. This was then made even more enticing through the social partnership agreements which Ireland negotiated with the transnational corporations (Allen, 2003). [...]
[...] What the Battel article did however was acknowledge all of the negative societal aspects related to the Celtic Tiger such as social stigmas and racism whereas the other did not (2003). Instead the Powell article decided on focusing on how things such as government misspending damaged the Irish economy. The main message conveyed by the Powell article was that economic freedom was the largest factor in the growth of the Irish economy. Essentially he felt that as long as the Irish economy stayed as free as possible, the Celtic tiger would continue to flourish (Powell, 2003). [...]
[...] After winning a political majority vote with the help of the Labor party, Fianna Fail used their power to try and turn Ireland into a self sufficient republic. When Ireland became an independent country the Irish state was forced to pay the landlords; a job previously taken care of by the British state. Since Ireland was independent it was argued that they should have to pay Britain's investment back (Battel, 2003). These came to be known as annuity payments and they demanded a significant portion of Ireland's total income per annum. [...]
[...] The Emergence of the “Celtic Tiger” When examining the economic phenomenon known as the “Celtic Tiger” one must examine the internal and external factors which contributed to its development. Namely one must address the roles played by the Irish government and external global factors in the development of such colossal economic growth. Also the need to speculate upon the societal repercussions is necessary as these internal and external factors which promoted growth affected them as well. However before trying to explain the repercussions and affects of the Celtic Tiger, one must first examine the internal factors which allowed laid the foundation for its development. [...]
[...] Societal Ramifications of the Celtic Tiger While the term Celtic Tiger is used to describe the positive aspects of Ireland's economic boom in the 1990's, it fails to address the negative societal impacts which the phenomenon had within Irish society. Some have argued that the phenomenon is often misrepresented as it only showcases the experience of newfound wealth to select members within Irish society. Also it can be understood that although not much attention is given to their existence institutionalized racism, gender stratification and poverty were still large issues during the emergence of the Celtic Tiger (Loyal, 2003). [...]
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