I think one of the best blogposts relating to Ireland’s economy last year came from Seamus Coffey, the lecturer in economics at University College Cork. The blogpost dealt with Irish wealth and proposals to introduce a wealth tax; it is particularly worth a read by some politicians who suggest a wealth tax will totally eliminate Ireland’s deficit.
This blogpost of mine today however is not about the substance of Seamus’s blogpost but a revelation uncovered whilst researching the data he uses; he found that a widely cited report on Ireland’s wealth by Credit Suisse was partly based on a report which is cited in the Credit Suisse bibliography as “Ireland, P. (2005): “Shareholder Primacy and the Distribution of Wealth”, Modern Law Review, 68: 49-81.” Seamus tried to obtain this report but when he did, what he found was flabbergasting – the report was written by someone called Paddy Ireland and had nothing to do with Ireland (the country) at all!
Or to put it another way, Credit Suisse’s analysis of Ireland’s wealth which is widely cited by those in support of a wealth tax is in part based on a report which has nothing to do with the country.
So, as it’s the weekend I thought you might have some fun with the following.
If UK topless model Jordan splits from her latest boyfriend, will Credit Suisse report “Middle East on the brink of collapse”?
If Robert Englund, best known for his portrayal of Freddie Kruger in the Nightmare on Elm Street series, sees his Hollywood earnings decline, will Credit Suisse report “UK in double-dip recession”?
If singer and actress Hannah Montana gets to the Billboard No 1, will Credit Suisse report “Californian economy overtaken by northwest state”?
And if Arnold Schwarzenegger who memorably portrayed “Dutch” in the film “Predator”, ever manages to run for president of the United States, will Credit Suisse report “Holland set for EU presidency”?