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China, the US and the EU are fundamentally different to most other countries/economies. They are political and economic super powers -- effectively. Ireland si
by s_dev 7y ago
China, the US and the EU are fundamentally different to most other countries/economies. They are political and economic super powers -- effectively.
Ireland simply cannot make everything the way China can from scratch. It's not even an option on the table let alone some abstract trade off. Complex supply chains are the only way to achieve any meaningful economic growth.
This also affects how our economy works. We don't get the same "multiplier effect" that the US will get from a stimulus package.
- remarkEon 7y ago>Complex supply chains are the only way to achieve any meaningful economic growth. I call BS. Complex supply chains are one of the ways to achieve questionably meaningful _GDP_ growth. Hopefully one of the outcomes of this crisis is that we start to question the "number go up" ethos of most conventional economists. It's true that Ireland can't make "everything" from scratch. But do they need to? Though, this becomes an almost circular philosophical discussion very quickly.