Sign of the times: Ajai Chopra of the IMF on his way to the Central Bank of Ireland in November 2010. Photogrpah: Peter Morrison/AP

When the International Monetary Fund came to Dublin in 2010, it had an interloper in its ranks. Hanging back a little, Liaquat Ahamed blended in ea(...)

European policy makers “are doing everything they can to stop recovery taking off, so they should not be surprised if there is in fact no take-off. It is balanced-budget fundamentalism, and it has become religious”.

John Maynard Keynes famously argued that politicians and policy makers are often “slaves to some defunct economist”. I think he was only partially cor(...)

The pension problem is a very long-term one but the pain of solving it is likely to be taken in the short term. Photograph: Frank Miller

In the long run, we are all dead. This much is familiar to most investment professionals, but John Maynard Keynes’ oft-quoted dictum continues like(...)

Of 450 employees surveyed, 60 per cent access and respond to emails outside office hours

Back in the 1930s, economist John Maynard Keynes confidently predicted modern technology would deliver a 15-hour working week, with people choosing mo(...)

The euro sculpture outside of the European Central Bank building in Frankfurt. Photograph: Arne Dedert/EPA

Mario Draghi’s latest cuts in interest rates are virtually unprecedented. Danish and Swedish central banks have flirted with similar moves but the Eur(...)

Thomas Piketty’s  “Capital in the 21st Century” has fuelled fierce debates about inequality. Photograph: Ed Alcock/New York Times service

It is one of the unlikeliest bestsellers in memory – a 685-page tome full of historical census and tax data and literary allusions to the likes(...)

The reaction to French economist  Thomas Piketty’s ‘Capital in the Twenty-First Century’ shows the rising tide of anxiety about inequality. Photograph: Fred Dufour/AFP/Getty Images

Inequality is a hot topic right now. The reaction to Thomas Piketty’s Capital in the Twenty-First Century (...)

Republican Senator Rand Paul  cited research suggesting that the long-term unemployed have a hard time re-entering the workforce as a reason to cut off long-term  benefits. Photograph: Bill Pugliano/Getty Images

Six years have passed since the US economy entered the Great Recession, 4½ since it officially began to recover, but long-term unemployment remains di(...)

The hint that the US Federal Reserve might be about to taper off its bond purchases was enough to cause tremors in financial markets.

Too much state-created money is by definition a bad thing. And so is too little. But how do we know how much is too much and how much too little? The (...)

A means to an end
  • Ireland
  • September 11, 2013, 01:00

Austerity is a means to an end, not an end in itself. That is how Central Bank governor, Patrick Honohan views the pragmatic economic measures taken s(...)