Classical economics was built around the notion that people’s behaviour responds to prices in a way that makes markets work. While price does influenc(...)

After seven years of tough cuts in public expenditure and increases in taxation we are, hopefully, at the end of the process of adjustment. This do(...)

John FitzGerald  gave the Banking Inquiry an insight into the mindset of the top brass at AIB in 2006, which  it seems had its own concerns about the Irish economy at that time. File photograph: Bryan O’Brien/The Irish Times

John FitzGerald’s four-hour appearance at the Oireachtas Banking Inquiry shone a light on how the ESRI, the country’s main economic think-tank, goes a(...)

John  FitzGerald was of the view that  concern over stress tests emanated from the board of AIB. “This would not have happened unless there was very senior buy-in [at AIB].” File photograph: Alan Betson/The Irish Times 2:06

AIB approached the ESRI in early 2006 to see if the thinktank would carry out a stress test of the bank’s balance sheet as it felt that a similar exer(...)

John Fitzgerald, research affiliate at the ESRI, said that the ESRI did not draw the connection between the growth of a property market bubble and the risks to the Irish financial system. (Photograph: Alan Betson / The Irish Times) 2:06

The ESRI failed to forecast the financial collapse in 2008, economist John FitzGerald told the Oireachtas Banking Inquiry today.He said the ESRI did n(...)

North Sea oil rig: The recent oil price collapse is primarily due to an increase in supply. Photograph: Kristian Helgesen/Bloomberg

One of the more favourable economic “surprises” over the past six months has been the fall in oil prices. Already the gain is clear to anyone who has (...)

For half a century the attraction of foreign investment to Ireland has been a key feature of the Irish development strategy. It has proved successful,(...)

Writer Martina Devlin, facilitator Ciaran Carty and author Xiaolu Guo judging the 44th Hennessy literary awards. Photograph: Alan Betson
The latest Hennessy nominees

The new year heralds a new home for New Irish Writing, the renowned literary page that has discovered many of Ireland’s leading writers. Launched b(...)

Over the last 40 years, Irish elections have been fought increasingly over competing manifestos and programmes for Government that have become progressively more sophisticated. Photograph: Cyril Byrne/The Irish Times

We are in the lead-in to an election and political parties are working on their election manifestoes. The forthcoming election may give voters an oppo(...)

The data shows that the exceptionally high death rate among children of unmarried mothers was not confined to any one home or any one location in Ireland and that it persisted till the 1940s.

While the standard of living today, measured in terms of income per head, is a multiple of what it was a century ago, a much more dramatic improvement(...)