Synopsis
In recent years Ireland has experienced rapid economic growth. In this book, Anthony Sweeney argues that Ireland, and Dublin in particular, is experiencing a classic boom-and-bust cycle, and that the good times will come to an end.'
From the Author
The truth about Ireland's booming economy.Irrational Exuberance is a book about Ireland, specifically the booming Irish economy. Like many economic cycles before, the majority of people do not believe that the current boom will end, but it will. This book explains what business-cycles are, and demonstrates how this theory applies to Ireland. It is not, however, a turgid economic treatise. I wrote it in a clean-cut style, that is hopefully lucid without over-simplifying important matters. The book traces how Ireland’s initially stable economic growth was distorted by the Irish government’s desire to join EMU. The book clearly demonstrates the visible signs of this excessive growth and how it is adversely impacting the economy. I also discuss many relevant issues such as house prices and how this asset bubble will burst, causing financial calamity for many. The book, however, is not a doom-and-gloom tome. In the last three chapters, I describe how businesses and consumers in Ireland can not only avoid the worst excesses of the ‘bust’ phase of the cycle, but how they can actually profit from it.
