The Economics of Ireland

In: Business and Management

Submitted By tasly
Words 387
Pages 2
The Economics of Ireland
Teresa Sly
Rasmussen College

Author Note This paper is being submitted on April 10th 2015, for Lisa Reed’s Introduction to Business Course.

The Economics of Ireland The economic system of Ireland is regulated Capitalism. Its means of production are privately owned and operated, but the government exercises a level of control over what a person can do with his or her property and how they run a business. The goals of regulated capitalism are to improve product quality, improve working conditions, and to reduce or limit harm done by potentially dangerous substances such as alcohol. State sponsored bodies operate rail and road transport, electricity, and some television and radio stations. The United Nations rated Ireland as the fourth best country in which to live. Ireland is the second wealthiest nation in the world with more than 30,000 millionaires in residence. Irish workers enjoy low taxes on wages. Irish citizens are offered a rebate for eco-friendly cars. The Irish government offers a free education and often pays students to take FAS (Foras Aiseanna Saothair) classes from the National Training and Employment Authority. The Average cost of a 4 year degree in the United States in $26,600.00. Irish citizens enjoy a free prescription drug plan. In the Irish National Health System private medical insurance costs per year, what the average American pays per month. The Irish Economy is not without its challenges. The average house in Ireland costs 350,000 pounds. That is about $519,000 in American dollars. Irish grocery prices are amongst the highest in Europe. Nine percent of the Irish population is classified as consistently poor, and one of five children leave school with inadequate literacy. Irish hospitals have a myriad of problems, including long waiting lists. As many as 29,000 people could be on waiting…...

Similar Documents

“Celtic Tiger”: the Rise of Ireland to an Economic Successful Country for Foreign Investment

...“Celtic Tiger”: The rise of Ireland to an economic successful country for foreign investment K. Siebeneicher ENG 240 Communications for Business and the Professions Ireland’s improvement from a country dominated by poverty and violence into an economically as well as financially successful country has not only turned it into one of the most successful countries in the European Union but also into an attractive choice for foreign investors from all over the world. If somebody is asked what Ireland is famous for most likely the answer will be Guinness- beer or Saint Patrick’s Day. Most people know Ireland as a popular tourist destination located in the western part of Europe. Well-known for its beautiful landscape, historical remnants and ruins of its fascinating history Ireland attracts millions of tourists every year. Whether tourists plan to visit some of the several ancient Castles, such as Trim Castle, ancient monuments such as the Beaghmore Stones or enjoy themselves playing golf, going fishing or watching horse racing Ireland offers anything a person is looking for in a vacation. (History & Heritage, 2008) Although its history and landscape it interesting and beautiful, Ireland is also branded for its troubled and violent history which includes diseases, starvation, wars and terrorism. Not many people are acquainted with the fact that after the period of violence and struggle, around 1990, crucial changes in the government were made and......

Words: 4609 - Pages: 19

Days Leading Upto Irelands Economic Crisis

...meltdown of the entire banking system. This doomsday scenario could have occurred as a domino effect as Irish Banks collapsing could have spread the contagion to larger European banks (who had bought Irish debt) which in turn could have destroyed banks around the world exposed to European bank debt with devasting effects for the global economy. The government guarantee actually promised much more than what the Irish government were actually capable of. Indeed the note of 22nd Sept between government departments which showed the short-term assets at the governments disposal would have been wholly inadequate in shoring up the Irish Financial institutions in the event that depositors had started to withdraw their cash in large numbers, placing Ireland at the mercy of the ECB. Indeed this injection of confidence is central to what was needed, not least because of the knock-on effects on government borrowing costs....

Words: 823 - Pages: 4

Ireland Organization

...for one more year in order to intend a Bachelor with Honours. I really get involved in the system and I met many Irish people during this year, that’s why I would like to extend my experience for an other year to improve as much I can my English skills. I will be mainly surrounded by Irish people and I expect a lot of the year that is coming. At the beginning of the year I didn’t imagine that I will stay here but i met many time the chief of business department and I have the opportunity to follow my studies in Ireland, I don’t want to miss this chance at this stage of my career. Contents Introduction 6 History of Ireland 7 History 7 Geography 15 Irish education system 17 Health care system in Ireland 18 Population 20 Pubs and drinking 22 Religion in Ireland 25 Irish sport and youth society 27 Parliament and government 29 Growth and early industrialisation: 1690 to 1815 30 Economy 31 Policy objective for Irish economy 32 Economy, Ireland becomes a global growth leader 32 Irish Department of Defence Force 36 The defence environment 37 Role of the Defence Forces: 39 Defence Force and the Government: 40 Permanent Defence Force 41 Duties of the chief staff: 42 National and international security framework programme 44 Outputs and targets 45 Defence force programme 45 Contingent capability outputs 46 Aid to the civil power operations 46 International peace-keeping operations 46 Fishery protection and surveillance......

Words: 18722 - Pages: 75

Homelessness in Ireland

...Civic and Community Engagement Project Brief 12.12.2013 Task: Complete a research paper on Homelessness in Ireland. Write a reflective paper, with maximum 2000 words including references, discussing and reflecting on – The causes of homelessness – The issues that Homeless people face – Solutions to Homelessness – The Simon Society in Ireland Homelessness in Ireland Homelessness is one of our biggest problems in the word and also in Ireland. According to the statistics there are 3808 homeless people living in Ireland. Those include the people who are sleeping on the street, the ones who are staying in refugees or alternative hostels, people who live temporarily in bed and breakfast, or with their family or friends or illegally in squats. Figure 1 1 Figure 2 In the Figure 1 you can see how many homeless people each city or region has and the Figure 2 shows us the statistic categorized in homeless male and female living in a accommodation and the ones who don´t have a stay. But what causes the homelessness? Unfortunately most people think that homelessness is mostly caused by they own fault. A lot of people think after some personal failures the people loose control about their life caused by alcohol or drug abuse and become homeless. Although the personal failures named before also affect homelessness there are more personal reasons that caused homelessness and also most people forget to think about the structural reasons that also affects the homelessness...

Words: 1859 - Pages: 8

Ireland

...Ireland Ireland is an old fashion country which still in the modern Ireland has strong views upon religion questions. Up until 1986 it was impossible to get divorced but after the divorce referendum it was easier however there are still cases today that are denied especially in the parts were the Catholic Church is still the major authority. In some parts of Ireland the Catholic Church still controls the outlanders and especially their standpoints towards divorce and “arranged” marriage are still debated. All these views are shown in the short story “Teresa’s wedding” were the girl got pregnant in the field and Father Hogan arranges a marriage without her approval. The short story by William Trevor also shows the society how it truly was before the divorce referendum were the Catholic Church in this dump of a town still has the control and Father Hogan is the judge of everything with his strict religious influential. “Teresa’s Wedding” shows the concepts of what it means to be marriage but instead of the lovely reactions and happy thoughts you combine it with is no were to be find in this text. It is build up in a strange way with very detailed descriptions to create some sort of sense of characters and tone at the wedding. The composition is an exterior point of view were we see things from the outside sort of like the “fly on the wall”, which means that the narrator does not comment the story and tries to make the reader draw his own conclusions (litteraturensveje......

Words: 1284 - Pages: 6

Ireland

...Ireland When discussing different cultures, it is important to learn about the culture’s sports, food, holidays, music, dance, and artifacts. The differences between cultures can be drastic. Learning different cultures is interesting and essential if one plans to go into the business world. You may have employees under you that are of a different culture, or you may end up conducting business deals with different cultures. One could make or break a business deal with how much or how little he knows about the country. They other country is going to want to feel confident in choosing you to do business with. So now we will discuss a few different aspects of the Ireland culture. Variety of foods and beverages are important in any culture. When discussing Ireland, they are know for the freshness and quality of their ingredients. When Irish make homemade dishes, they usually do not use a lot of spices but only salt and pepper. They do not serve the dishes with sauce or gravy either. Common foods found in the Irish diet would be potatoes, grains, and dairy products. Newly add would be seafood and meat such as lobster, salmon, beef, pork, and lamb. Ireland also has about fifty types of homemade cheeses, which are considered delicacies. Popular beverages would consist of tea, irish coffee, and alcoholic beverages such as whiskey, beer, and ale. Music and dance strongly influence the Irish culture. Popular instruments played in Ireland would be the harp, the uilleann bagpipe,......

Words: 314 - Pages: 2

Ireland

...Dissatisfaction grew with the failure of Gladstone's land reforms still poor and oppressed by their Protestant Masters Easy prey for violent extremists who tried to whip up anti-English feeling. * Disgruntled Irish Protestants lent their support to the Home Government Association (HGA)  Launched in Dublin by Isaac Butt = Start of the Home Rule for Ireland Movement. * 1873 = HGA became the Home Rule League. * The Strong Home Rule representation in Parliament was a great achievement for Butt  However, the Home Rulers lacked discipline and cohesiveness to ring pressure to Westminster They lacked a strong leader Butt did not possess the dynamism to keep Home Rule at the top of the political agenda  Believed that the Home Rule case would succeed if they were patient After Butt's death, Parnell took over the leadership of the Irish Party in the House of Commons more charismatic and more in favour of action. The Question of Home Rule The Influence of Isaac Butt * Home Rule Movement stemmed from the ideas of Isaac Butt Set up the Home Government Association (HGA) Worked towards a federal solution with a separate parliament in Dublin Ireland could run its own affairs 1874 = Butt replaced the HGA with the Home Rule League Wide-based support among the Irish  1874 General Election = returned 59 Irish MPs on a Home Rule platform Group formed the nucleus of a strong Irish Nationalist/Home Rule Party Actions directed Irish politics for the next decade. The......

Words: 835 - Pages: 4

Ireland

...reviving and inventing tradition in Ireland shows us how history can be manipulated by its tellers in order to suit their cause. Inventing tradition as described by Eric Hobsbawm is ‘A set of practices, normally governed by overtly or tacitly accepted rules and of a ritual or symbolic nature which seek to inculcate certain values and norms of behaviour by repetition, which automatically implies continuity with the past’ – Hobsbawm, Reading 5.1 p176, Tradition and Dissent. It also includes preserving or showing only specific aspects of a history that align with the individual or groups specific cause and encourages specific beliefs about the past that it wants people to have. The British conquest of Ireland was a gradual process which began in 1169, and by 1603 the whole of Ireland was under British rule. It was the belief of the Irish nationalists that Ireland should rule itself. After many years the Irish nationalists won independence from Britain in 1922. Reviving and Inventing tradition was important both prior to gaining this independence, and after gaining independence. Throughout the century prior to Ireland gaining its independence the nationalists were united in the goal to establish that the country of Ireland had a rich and ancient culture. Thomas Davis was an Irish Nationalist who lived from 1814 until 1845. He dedicated a large portion of his short life to Irish nationalism. Davis and others (collectively known as ‘Young Ireland’) founded the newspaper......

Words: 1145 - Pages: 5

Northern Ireland and Republic of Ireland

...Conflict Research Perspectives Northern Ireland & Republic of Ireland Rhett S. Close HUMN 305, Global Issues Professor Bakkum March 10, 2015 Conflict Research Perspectives Northern Ireland & Republic of Ireland “The Troubles” as commonly known to the people of Ireland is the conflict that has been raging between the Republic of Ireland and Northern Ireland since the 1960’s. This conflict has been defined as a religious one between the Republic of Ireland (Catholic) and Northern Ireland (Protestant). The more recognized believe that it is in reference to the political issue of separating from Britain such as the Republic did or staying “loyal to the crown” as Northern Ireland has. The final point is the hostile actions that both sides have committed in defense of their positions (Hammer, 2009). Both sides make arguments to why the other has been the source of the problem. In the following paragraphs, we will look at each side’s arguments and present the facts as they are known. Republic of Ireland The Republic of Ireland has a vivid memory of the ethnic and religious persecution they endured by their British rulers. There has been a long history of violence and discrimination based on the religious choices and their ethnic background. This is a modern example of religious and ethnic bigotry in a first world country. Citizens were afraid to practice their religion or to be affiliated with their home land based on the violence that may occur. A......

Words: 673 - Pages: 3

Doing Business in Ireland

...Doing Business in Ireland Team Arrow [Year] Doing Business in Ireland Team Arrow [Year] Course: INB 372 Section: 10 Semester: Fall 2015 NAME | ID | Fuad Bin Saif | 141 1722 630 | Md. Sadman Sakib | 141 1428 030 | Monis Ahmed | 141 0637 030 | Ashrafl Alam Galib | 141 0734 030 | Omar Farhan Khan | 141 1689 630 | Prepared For Krishna Biswas (GpB) Lecturer Dept. Of Marketing & International Business NORTH SOUTH UNIVERSITY ACKNOWLEDGEMENT The most pleasant part of submitting the report is to get the opportunity of completing and learning from it. We would like to thank those who have contributed to it a lot. Unfortunately, the list of expression of thanks- no matter how extensive is always incomplete and inadequate. These acknowledgements are no exception. Our first thank goes to the almighty Allah for bestowing us the patience and courage to finish this huge task within its deadline. Thanks must go to the team members, whose unflagging patience and astounding capacity for creative work, and long hours made the project both possible and successful – under the pressure of the knocking deadline. At last, we sincerely acknowledge our debt to Krishna Biswas, our honorable faculty,......

Words: 5586 - Pages: 23

Healthcare in Ireland

...Healthcare in Ireland Healthcare in Ireland is rated among the best in the world. According to International Living (2014), the standard of healthcare in Ireland is very good with satisfaction ratings of 90% for outpatient and 85% for inpatient treatments. Ireland has a publicly funded healthcare system based on general taxation. The tax rate is high at 20%. The Minister for Health & Children is responsible for healthcare policies and the Health Service Executive (HSE) is in charge of implementing the policy. Public hospitals in Ireland are owned and funded by the Health Service Executive (HSE) and there are hospitals which may be privately operated but funded by the government. Healthcare is essentially free. Anyone who is categorized as a common resident by the Health Services Executive, i.e. someone who is living in Ireland or intends to remain there for at least a year, has access to publicly funded healthcare. Indigenous citizens qualify by birth. Citizens must have a medical card that is issued by the HSE and are entitled to visits to a GP-General Practitioner, prescription medicines and certain medical equipment like wheelchairs, some dental treatment, vision and hearing services, treatment at public hospitals, and maternity and care of the newborn for up to six weeks after birth. They also may be entitled to free transportation to school for children who live 3 miles or more from the nearest school, and receive financial help with school book......

Words: 2151 - Pages: 9

Business in Ireland

...With today’s competitive market, we as a manufacturer of computer equipment need to expand our business. As of today, we are in the United States and London, England. Our company could do great things in Ireland. We could provide jobs to hundreds of locals and our business could save millions on shipping costs to Europe. With this expansion, we could not only employ many locals, but bring prosperity to the local economy. Our company could do great things in Ireland, but we first need to know how to do business in this land. In Ireland, much like the US, we always need to arrive on time. Being late is considered inconsiderate and some businessmen see it as an insult. Although, with our business being made up of foreigners, we should give the local Irishman leeway in being late to an appointment due to the fact that the Irish are not very time conscious. They are normally do not arrive any more than fifteen minutes late, if the time exceeds this, you should consider phoning them and rearranging the meeting. The Irish are a very relaxed group of people. This should be considered when conducting business with them. Unlike some cultures, gift giving in Ireland is not needed. If you consider giving a gift, it should only be when negotiations have ended and both parties have approved of the negotiations. If you receive a dinner invite, you are expected to bring a bouquet of flowers, box of chocolates, box of pastries, or a craft item from your home region. A book......

Words: 917 - Pages: 4

Ireland

...In considering the process of change in the development of Irish nationalism over the whole period 1800-1921, how far can the Easter Rising be seen as a turning point? Nationalism in Ireland is when people increasingly identify with Ireland as their home nation and it also signifies a move away from identification with the British. A turning point would be a single event or individual that led to a great development in nationalism, this being and increase or decrease. The Easter Rising cannot be seen as the main turning point in Irish nationalism. Rather, the development of nationalism can be attributed to a culmination of events spanning over the whole period with each event adding a more solid foundation for changes. Some events that I shall speak about such as the Great Famine laid a much stronger foundation for nationalism due to the great increase in Anglophobia. Whereas other factors such as the Catholic Emancipation Act which showed the Irish Catholic population how they could achieve great change and concessions from the British through a united front. These achievements were limited by the fact that they gave the Irish more power in the British political system, however, they had gained no more power for the Irish political system. Individuals such as Parnell gave nationalism a new face by providing a viable constitutional route to achieving independence through the uniting of the nationalist movements which led to him being the most important turning point.......

Words: 2566 - Pages: 11

Bulmers Ireland

...Bulmers Ireland “Time Dedicated to You” For this assignment we were asked to write an internal and external investigation for Bulmers Ireland. I would like to start by giving a brief history of the company itself. It started with an orchard in the town of Clonmel in Co. Tipperary. Commercial cider production began in 1935 under the control of local man William Magner. In 1960 they launched a “Champagne Perry” in direct competition with Showerings Ltd. product known as “Babysham”. Showerings took them to court over this and Bulmers lost, forcing them to sell up. It is currently a division of the C&C group, which is the largest drinks company in Ireland at the moment. Currently the company still operates in the Clonmel area in a plant a few miles outside the town called Annerville and employs around 470 people. Over the years the brand has grown from strength to strength and is now being sold in 30 countries across the world. With its flagship product still being the apple cider, it has tried to branch into other niche markets with in the alcoholic sector. Releasing Bulmers Light in 2007 and Bulmers pear/berry in 2010. (Web1) S.W.O.T. Analysis A swot analysis is a method used in business to determine the strengths your company possess, the weaknesses your company are subject to as well as the opportunities you could exploit and the threats you face. Strengths Strengths are an internal factor designed to show exactly where your power lies as a company...

Words: 2219 - Pages: 9

Ireland Debt

...UCD CENTRE FOR ECONOMIC RESEARCH WORKING PAPER SERIES 2011 Ireland’s Sovereign Debt Crisis Karl Whelan, University College Dublin WP11/09 May 2011 UCD SCHOOL OF ECONOMICS UNIVERSITY COLLEGE DUBLIN BELFIELD DUBLIN 4 Ireland’s Sovereign Debt Crisis Karl Whelan University College Dublin 1 May 2011 1 This paper was presented at a workshop on "Life in the Eurozone With or Without Sovereign Default?" that took place at the European University Institute in Florence on April 14, 2011. 1 1. Introduction Among the countries currently experiencing sovereign debt crises, Ireland’s case is perhaps the most dramatic. As recently as 2007, Ireland was seen by many as top of the European class in its economic achievements. Ireland had combined a long period of high economic growth and low unemployment with budget surpluses. The country appeared to be well placed to cope with any economic slowdown as it had a gross debtGDP ratio in 2007 of 25% and a sovereign wealth fund worth about €5000 a head. Fast forward four years and Ireland is shut out of sovereign debt markets and in an EUIMF adjustment programme. Its debt-GDP ratio has soared over 100% and the sovereign wealth fund is effectively gone. In this short paper, I provide a brief review of how this rapid change came about and discuss potential future developments in relation to Ireland’s sovereign debt situation. 2. The Rise and Fall of the Celtic Tiger It is now well known that Ireland’s famed “Celtic Tiger”......

Words: 5442 - Pages: 22