Economy
The economy of the Dublin Region was identified as being the powerhouse behind the Celtic Tiger, a period of strong economic growth of the state. This resulted in the economy of the region expanding by almost 100% between the early 1990s and 2007. This growth resulted from incoming high-value industries, such as financial services and software manufacturing, as well as low-skilled retail and domestic services, which caused a shift away from older manufacturing-industry. This change saw high unemployment in the 1980s and early 1990s which resulted in damage to the capitals social structure.
Regional GDP in 2002 was €42.505bn, with GDP per capita at 129% of the state average, and 171% of the European Union average. The workforce of the region in 2003 was 555,306 which equated to a 95.9% employment rate with services (80.0%), industrial employment (12.0%), and construction (8.0%) forming the key industries.
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Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)