Remember this?

Brian Lenihan said the bank guarantee scheme was “a necessary first step” and “the cheapest bailout in the world so far” compared with bank rescues where “billions and billions of taxpayers’ money are being poured into financial institutions”. “It allows us to move on and examine other questions which may have to be addressed to […]

Failure Is Good

Way back in September 2008, I wondered what had become of free market philosophy, as the US government scrambled to rescue crumbling banks. Two weeks later, Ireland guaranteed bank deposits and bondholders. A lot has happened since then. Back in 2008, I asked what happened to the belief in creative destruction. I’m still wondering. Capitalism […]

Equity

Junior labour minister Billy Kelleher thinks the minimum wage needs a review. Apparently, €8.65 an hour could be a ‘barrier to employment’. Billy’s boss, enterprise and employment minister Mary Coughlan, sets the minimum wage in orders and regulations laid before the Oireachtas. Maybe the government hopes the latest kite will distract from the fact that […]