As part of the effort to get a debate going around Michael Taft’s proposals in his article Towards a New Economic Narrative, which we published in Irish Left Review recently, I contacted a number of people to see if they’d like to respond. The reaction has been quite encouraging and a number of them have said that they’d write a response.
Earlier on in the week we published an excellent piece by Dr. Terrence McDonough of the Dept of Economics at NUI, Galway, in which he puts the current financial crisis in the context of recent economic history, and then moves on to deal with Michael’s proposals in turn.
And today we have an article by Dan Boyle, Senator and Party Chair of the Green Party, which gives the Green’s point of view on the proposals.
From a Green perspective there is little I would disagree with on Michael Taft’s analysis. Differences where they exist are more to do with emphasis than philosophical direction. Budget 2009, contrary to much of the reportage of its contents subsequently, has quite clearly hitched itself to a borrowing wagon than it has to the curbing of public expenditure or additional taxation measures. Close on 13 billion euro is being sought in borrowing in 2009 and this could rise to 15 billion given the further deterioration in taxation receipts in 2008.
You can read all of the article over on Irish Left Review.