Resonances from Economic Development for Current Economic Policymaking. ESRI WP267, December 2008

Ruane, Frances (2008) Resonances from Economic Development for Current Economic Policymaking. ESRI WP267, December 2008. [Working Paper]

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Abstract

On November 25 1958, an article in the Irish Times stated that the publication of Economic Development was a unique event, because for the first time, an Irish Government has revealed in full detail the view put to it on the whole range of economic policies by its principal adviser, the Secretary of the Department of Finance. The (unnamed) journalist went on to note that in its Programme for Economic Expansion, published ahead of Economic Development, the Government had endorsed most of its content, and in particular, the suggestion of allocating more State investment to support productive enterprise. He further noted that the new productive investment would be superimposed on top of the existing socially-oriented programmes – in other words, there was no plan for a major reallocation of existing public resources. The article also recognised that the plan was not perfect but was optimistic that any criticisms it might attract would be aimed at making it a better plan. The journalist’s tone is one that is empathetic to a country recognising its problems and planning to deal with them.

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