Comments on: 1970s THROWBACK http://dublinopinion.com/2008/07/24/1970s-throwback/ It's a group blog. What more do you need to know? Fri, 30 Jul 2010 09:12:43 +0000 http://wordpress.org/?v=2.2.1 By: Michael Taft http://dublinopinion.com/2008/07/24/1970s-throwback/#comment-67322 Michael Taft Fri, 25 Jul 2008 08:37:31 +0000 http://dublinopinion.com/2008/07/24/1970s-throwback/#comment-67322 Thank you, Conor, for pulling out the most far-sighted, radical and amazingly relevant report on the Irish economy - the Telesis Report. It's publication was greeted with horror by the 'establishment'. All the more curious since the report was drawn up by an American management consultancy firm - hardly a revolutionary body. It's critique was simple, as you pointed out - we were wasting money, resources and time grant-aiding low value-added multi-national firms and non-traded business such as construction. We needed to build up indigenous skills and businesses. It's prescription was to identify 75 to 100 Irish-owned companies (it was called 'picking winners' or 'naitonal champions) and, with the full resources of the state, grow these companies internationally. It was a kick in the teeth - not only to accepted industrial policy, but to all those who believed that the free inter-play of 'market forces' would do us right. Telesis said we need public sector intervention - a lot of it and fast. Conservative commentators went apoplectic and the Government disowned the report. Except - the IDA took it on board, went out and 'identified winners' - both companies and sectors, brought them here to Ireland. What happened next was the Celtic Tiger economy. We should republish and update the Telesis Report and this time apply it to indigenous enterprise. We need it now more than ever. Thank you, Conor, for pulling out the most far-sighted, radical and amazingly relevant report on the Irish economy - the Telesis Report. It’s publication was greeted with horror by the ‘establishment’. All the more curious since the report was drawn up by an American management consultancy firm - hardly a revolutionary body. It’s critique was simple, as you pointed out - we were wasting money, resources and time grant-aiding low value-added multi-national firms and non-traded business such as construction. We needed to build up indigenous skills and businesses. It’s prescription was to identify 75 to 100 Irish-owned companies (it was called ‘picking winners’ or ‘naitonal champions) and, with the full resources of the state, grow these companies internationally. It was a kick in the teeth - not only to accepted industrial policy, but to all those who believed that the free inter-play of ‘market forces’ would do us right. Telesis said we need public sector intervention - a lot of it and fast. Conservative commentators went apoplectic and the Government disowned the report. Except - the IDA took it on board, went out and ‘identified winners’ - both companies and sectors, brought them here to Ireland. What happened next was the Celtic Tiger economy.

We should republish and update the Telesis Report and this time apply it to indigenous enterprise. We need it now more than ever.

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