tag:blogger.com,1999:blog-38545607.post8904825431159407239..comments2024-03-09T10:26:48.789+00:00Comments on economics, psychology, policy: Ireland's woesEmma Watsonhttp://www.blogger.com/profile/11466193733741012673noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-38545607.post-32976278396353198252008-10-27T11:43:00.000+00:002008-10-27T11:43:00.000+00:00As with the policy interventions of the 1940s in I...As with the policy interventions of the 1940s in Ireland, I think it may take decades to evaluate the full consequences of the boom years. Authors such as Simon Stretzer have written about the disruptive effects of rapid economic growth, and in the Irish case there may be elements of an intertemporal trade off that are not yet apparent. In particular I’m thinking of alcohol/drug consumption, obesity and the physical and social costs of increasingly long commutes. It would be really interesting to fast forward 50 years and examine the outcomes of the cohort born during the Celtic Tiger. Revealed preference in voting patterns suggests that people were largely satisfied with the way the country was run (at least until now!), however the Irish housing crisis is further evidence that optimal decision making can be distorted by a variety of psychological factors.Mark McGovernhttps://www.blogger.com/profile/17133619200829364366noreply@blogger.com