Michael Hennigan: The Finfacts economics site was launched in 1997. Average monthly page views of this blog are at 80,000.
The German word ‘schuld' can mean either 'debt' or 'guilt' and Germans have a history of aversion to debt and fiat money (government-issued currency that is not backed by a metal such as gold or silver). The genesis of this obsession pre-dates the hyperinflation in the aftermath of the First World War.
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| This map has the 2020 data |
Among the 31 advanced (defined by the International Monetary Fund: IMF1) / rich countries of the 38 member Organisation for Economic Cooperation and Development (OECD) Ireland had the 19th ranking for Household net adjusted disposable income per capita. The poor occupational pension coverage in the Irish private-sector workforce is also relevant to the standard of living.
2021 Post: Irish standard of living at 13th in EU27 and 19th among rich OECD countries
While Ireland had a GDP (gross domestic product) per capita at 87% above the EU28 average in 2018, a proxy for material standard of living per capita was again below the EU28 average and that of Italy despite the latter's long period of economic stagnation.
“Ireland is ranked among the most entrepreneurial countries in the world with increasing opportunities for budding MBA entrepreneurs,” according to a 2018 article sponsored by the UCD Michael Smurfit Business School. A year before Enterprise Ireland, the public enterprise agency, stated, “In Ireland, there was (sic) an estimated 35,000 new business owners in 2016. 1 in every 23 people in Ireland (aged 18 to 64 years) is a new business owner. This is similar to the US (1 in every 25 people), and high compared to many other European countries, where the average is 1 in every 29 people.”
Boris Johnson, a possible prime minister of the United Kingdom, wrote in a column in the Daily Telegraph in May 2016:
Germany had merchandise goods trade with 237 countries and territories in 2018 encompassing every region of the world — with partners that were large, small and tiny. There were trade surpluses with 167 and deficits with 70 partners.
For decades Ireland felt assured that it would maintain the tax advantage that was first provided in 1956 to lure mainly American foreign direct investment (FDI) to Ireland. On Friday (May 31) in Paris 129 member countries of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) adopted a Programme of Work laying out a process for reaching a new global agreement for taxing multinational enterprises.
