It sort of is. And isn't. It's a helluva mess we've got ourselves into.
Ireland has built its modern economy on being attractive to multinationals. And it's worked. 10 MNCs alone pay 40% of all tax revenue in the country. They've brought jobs and wealth to a country that was previously big in dairy & emigration.
For the generation above me, the career path was study, leave, earn your money elsewhere - and perhaps come home one day to start a family. Perhaps. For the generation below me, they can go straight from Uni to FAANG (maybe FAAMG? I think msft are bigger than netflix in Dublin), startups, or elsewhere in the booming tech & pharma sectors.
Pandering to MNCs was a good strategy. It paid off. But it's not sustainable - no-one actually wants to win a race to the bottom.
I'm not sure biting the hand that feeds us is the best step to make right now though. We need to diversify first. We need to encourage home-grown talent. We need to wean the MNCs off their tax strategies slow enough that we don't startle them, etc.
Like it or not we are currently intertwined. That needs to be solved first - otherwise we just turn the tap off and return to the 80s.
(Yes I'm biased: I work for an MNC that probably wouldn't be here without this strategy. Without this strategy, I wouldn't be living here.)
Ireland has built its modern economy on being attractive to multinationals. And it's worked. 10 MNCs alone pay 40% of all tax revenue in the country. They've brought jobs and wealth to a country that was previously big in dairy & emigration.
For the generation above me, the career path was study, leave, earn your money elsewhere - and perhaps come home one day to start a family. Perhaps. For the generation below me, they can go straight from Uni to FAANG (maybe FAAMG? I think msft are bigger than netflix in Dublin), startups, or elsewhere in the booming tech & pharma sectors.
Pandering to MNCs was a good strategy. It paid off. But it's not sustainable - no-one actually wants to win a race to the bottom.
I'm not sure biting the hand that feeds us is the best step to make right now though. We need to diversify first. We need to encourage home-grown talent. We need to wean the MNCs off their tax strategies slow enough that we don't startle them, etc.
Like it or not we are currently intertwined. That needs to be solved first - otherwise we just turn the tap off and return to the 80s.
(Yes I'm biased: I work for an MNC that probably wouldn't be here without this strategy. Without this strategy, I wouldn't be living here.)