Abstract
Ireland’s deep crisis after 2008 was most immediately produced by the bursting of a real estate and banking bubble combined with collapsing tax revenues. This was made possible by Ireland’s continuing weakness in developing indigenous enterprise and investment, its limited social contract and emergent tensions in its historical external ties with the UK, the USA and Europe. More generally, the character of Ireland’s crisis was rooted in its varied history of economic liberalism, and particularly in an aggressive liberalism of the 2000s that succeeded earlier periods of passive and activist liberalism. Finally, despite recent economic and employment growth, Ireland’s recovery remains tenuous, given the re-emergence of historical patterns and the failure to address some key dilemmas in the ‘Irish model’.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Bailey, D., and J. Barry. 2016. The Hollowness of GDP: The Case of Ireland. SPERI Comment. http://speri.dept.shef.ac.uk/2016/09/22/the-hollowness-of-gdp-the-case-of-ireland/.
Connor, G., T. Flavin, and B. Kelly. 2012. The U.S. and Irish Credit Crises: Their Distinctive Differences and Common Features. Journal of International Money and Finance 31: 60–79.
Cusack, Thomas, Torben Iversen, and David Soskice. 2007. Economic Interests and the Origins of Electoral Institutions. American Political Science Review 101 (3): 373–391.
Davis, G. 2011. Managed by the Markets. Oxford: Oxford University Press.
Granovetter, M. 1985. Economic Action and Social Structure: The Problem of Embeddedness. American Journal of Sociology 91 (3): 481–510.
Hall, P.A., and D.W. Soskice, eds. 2001. Varieties of Capitalism: The Institutional Foundations of Comparative Advantage. Oxford: Oxford University Press.
Honohan, P. 2006. To What Extent Has Finance Been a Driver of Ireland’s Economic Success? ESRI Quarterly Economic Commentary 2006 (4): 59–72.
Jessop, B. 2014. A Spectre Is Haunting Europe: A Neoliberal Phantasmagoria. Critical Policy Studies 8 (3): 352–355.
Lane, P.R. 2011. The Irish Crisis, IIIS Discussion Paper No. 356, IIIS: TCD.
Mjøset, L. 1992. The Irish Economy in a Comparative Institutional Perspective. Dublin: National Economic and Social Council.
NESC. 2005. The Developmental Welfare State. Dublin: NESC.
———. 2009. Ireland’s Five-Part Crisis: An Integrated National Response. Dublin: NESC.
Ó Riain, S. 2004. The Politics of High Tech Growth: Developmental Network States in the Global Economy, Structural Analysis in the Social Sciences 23. New York/Cambridge: Cambridge University Press.
———. 2009. Addicted to Growth: Developmental Statism and Neoliberalism in the Celtic Tiger. In The Nation-State in Transformation: The Governance, Growth and Cohesion of Small States Under Globalisation, ed. M. Bøss. Aarhus: Aarhus University Press.
———. 2014. The Rise and Fall of Ireland’s Celtic Tiger. Cambridge: Cambridge University Press.
———. 2016. The Shifting Politics of Innovation and State Developmentalism in Ireland. Stato e Mercato 2016 (1): 41–68.
———. forthcoming. Ireland’s Recovery: Explanation, Potential and Pitfalls. In Debating Austerity, ed. E. Heffernan, J. MacHale, and N. Moore-Cherry. Dublin: Royal Irish Academy.
Ó Riain, S., and P. O’Connell. 2000. Chapter 16: The Role of the State in Growth and Welfare. In Bust to Boom? The Irish Experience of Growth and Inequality, ed. B. Nolan, P. O’Connell, and C. Whelan. Dublin: Economic and Social Research Institute/Institute for Public Administration.
Ornston, D. 2012. When Small States Make Big Leaps: Institutional Innovation and High-Tech Competition in Western Europe. Ithaca: Cornell University Press.
Polanyi, K. 1957/1944. The Great Transformation. Boston: Free Press.
Ruane, J. 2010. Ireland’s Multiple Interface-Periphery Development Model: Achievements and Limits. In The Nation-State in Transformation: The Governance, Growth and Cohesion of Small States under Globalisation, ed. M. Bøss. Aarhus: Aarhus University Press.
———. 2016. Modelling Ireland’s Crises. In Dynamics of Political Change, ed. N. Ó Dochartaigh, K. Hayward, and E. Meehan. London: Routledge.
Scharpf, F. 1991. Crisis and Choice in European Social Democracy. Ithaca: Cornell University Press.
Schmidt, V., and M. Thatcher. 2014. Why Are Neoliberal Ideas So Resilient in Europe’s Political Economy? Critical Policy Studies 8 (3): 340–347.
TASC. 2010. Mapping the Golden Circle. Dublin: TASC.
Whelan, K. 2010. Policy Lessons from Ireland’s Latest Depression. Economic and Social Review 41: 225–254.
White, R. 2010. Years of High Income Largely Wasted. Dublin: Davy Stockbrokers.
Acknowledgment
Research for this chapter was supported by a Starting Investigator Grant of the European Resesarch Council to the ‘New Deals in the New Economy’ project.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2018 The Author(s)
About this chapter
Cite this chapter
Riain, S.Ó. (2018). Tracing Ireland’s ‘Liberal’ Crisis and Recovery. In: Parker, O., Tsarouhas, D. (eds) Crisis in the Eurozone Periphery. Building a Sustainable Political Economy: SPERI Research & Policy. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-69721-5_2
Download citation
DOI: https://doi.org/10.1007/978-3-319-69721-5_2
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-69720-8
Online ISBN: 978-3-319-69721-5
eBook Packages: Political Science and International StudiesPolitical Science and International Studies (R0)