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[The Irish Economy] I scribbled a quick blog entry I called Toxic Waste, a year ago. Folk accused me of using incorrect terminology to describe what was unfolding in the summer of 2009.
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[The Irish Economy] The Irish Economy » Blog Archive » The Enduring Influence of ...: When I was a junior economist in short trousers, the first research I ever did was inspired by Ireland’s successful 1987-89 fiscal adjustment. Many international researchers looked at Ireland and decided that our successful adjustment stemmed from consumers stepping into the breach filled by the government spending cuts. The story was that increased consumer confidence, fueled by expectations of lower future taxes, was the key to the recovery.
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