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Property, Family and the Irish Welfare State pp 203–260Cite as

Palgrave Macmillan

Marketisation: 1990–2007

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Abstract

This chapter examines the policy and socio-economic developments which followed the collapse of Ireland’s state-subsidised system of property redistribution in the 1980s. The primary insight offered here is that policymakers continued to pursue their long-cherished goal of promoting property acquisition and habit of using construction as an economic and employment stimulus during the 1990s and early 2000s, but they used different mechanisms to achieve these objectives. Until the late 1980s, property redistribution had been primarily a socialised activity which was dependent on an expensive and extensive variety of public subsidies and enabled property distribution patterns which were more progressive than the distribution of income or other types of wealth. This chapter explains that from the 1990s, construction and property redistribution was primarily a marketised activity supported by commercial bank lending and private property developers and these developments provoked a marked growth in “financialisation” by radically increasing the availability of and necessity for commercial credit and thereby increasing the power of the finance industry over the economy, government and households. As a result of these developments the distribution of property ownership became more regressive and a much larger proportion of the population was excluded from homeownership than had been the case during the 1970s and 1980s.

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  1. School of Social Policy, Social Work and Social Justice, University College Dublin, Dublin, Ireland

    Michelle Norris

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Norris, M. (2016). Marketisation: 1990–2007. In: Property, Family and the Irish Welfare State. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-44567-0_6

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  • DOI: https://doi.org/10.1007/978-3-319-44567-0_6

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