Economic Bits

Secrets of Irish Success

. . . in 1985 Ireland made a u-turn. It drastically lowered the tax burden. All wasteful government spending was eliminated. In three years time public spending was reduced by no less then 20%. The result was that Ireland entered a period of explosive GNP growth, averaging 5.6% from 1985 to 2002. This is rough­ly three times the Belgian growth rate. The boom went hand in hand with the creation of new jobs, which was far in excess of that in Belgium.

Because of its awe-inspiring rise in prosperity Ireland has now more resources available for all sorts of social, cultural and environmental initiatives than Belgium does.

I am not ideological. If something works - if it's proven to work - then you use that tool and ideology be damned. Tax breaks, reducing government spending et. al seem to work, massive government programs and spending do not.

Even SF cartoonists get it ...

Petey: Restore your system to greatness. Nurure, Heal and Defend, per the Sacred Charter.
New Principal: How? The economy is a twisted mess!
Petey: Are you asking for advice?
NP: Yeah
Petey: Rebuild your orbital defenses. Offer tax breaks to private industry for orbital projects, and don't be afraid to let them profit by growing their space-based industries on the side. Re-tool your welfare programs around training for service industries. Those willl boom in short order. In ten years you'll be hailed as the greatest Principal your world has ever seen.

Mind - Petey is a hyper-intelligent AI so he can be expected to be smarter than your average psycho koala bear alien.