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Thread: Ireland becomes more competitive

  1. #1
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    Default Ireland becomes more competitive

    According to the World Economic Forum, a Swiss capitalist foundation which places Switzerland as the most competitive country in the world, Ireland improved in competitiveness for 2011-2012 to become #27, an improvement of two ranking places from #29 for 2010-2011. Ireland overtakes the Sultanate of Brunei and the United Arab Emirates in the latest ranking list.
    http://www3.weforum.org/docs/CSI/201...gs_2012-13.pdf
    The Forum is best known for its annual meeting in Davos, a mountain resort in Graubünden, in the eastern Alps region of Switzerland. The meeting brings together some 2,500 top business leaders, international political leaders, selected intellectuals and journalists to discuss the most pressing issues facing world capitalist wealth, including health and the environment.
    The Global Competitiveness Report purports to assesses the ability of countries to provide high levels of prosperity to their citizens. This in turn depends on how productively a country uses available resources. Therefore, the Global Competitiveness Index measures the set of institutions, policies, and factors that set the sustainable current and medium-term levels of economic prosperity. No consideration is given to the disparity of wealth within countries. One part of the report is the Executive Opinion Survey which is a survey of a representative sample of business leaders in their respective countries. Fundamentally, increases in wages are considered by the World Economic Forum to be detrimental to competitiveness.

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    Default Re: Ireland becomes more competitive

    Ireland was highly competitive in the 1990s and slipped each year from 2000 as the bubble artificially inflated costs.

    What I've never understood was how so many things got more expensive - housing obviously, but also all services - and we were told there was no inflation.

    Were these things just "not in the shopping basket" ?

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    Default Re: Ireland becomes more competitive

    Quote Originally Posted by C. Flower View Post
    Ireland was highly competitive in the 1990s and slipped each year from 2000 as the bubble artificially inflated costs.

    What I've never understood was how so many things got more expensive - housing obviously, but also all services - and we were told there was no inflation.

    Were these things just "not in the shopping basket" ?
    Bear in mind that the notion of competitiveness as measured by the World Economic Forum (WEF) relates to the ability of entrepreneurs and multinational corporations to make a profit out of the various factors of production in a given country. Depending on the level of development of exploitation of these factors in each group of countries, e.g. the Third World or Europe, different measures are used by the WEF.

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    Default Re: Ireland becomes more competitive

    Quote Originally Posted by C. Flower View Post
    Ireland was highly competitive in the 1990s and slipped each year from 2000 as the bubble artificially inflated costs.

    What I've never understood was how so many things got more expensive - housing obviously, but also all services - and we were told there was no inflation.

    Were these things just "not in the shopping basket" ?
    House prices are not included for one

    The purchase of a house is an investment in a capital asset, purchased over a long period of time that
    usually appreciates in value. It does not form part of consumption. House prices are excluded from the
    index.
    Changing tastes in the Bubble might have increased the cost of living but not the prices of goods measured. Champagne bought instead of Buckfast?

    Champagne actually removed this year!

    TINNED SPAGHETTI, suntan oil, collars of bacon, ladies’ slippers and court shoes, rented DVDs, the CD single and the man’s overcoat have all been declared old hat by the Central Statistics Office (CSO).

    Along with 18 other items they have been pushed out of the basket of goods used to track inflation in favour of sunblock, iPads, smart TVs, mineral water, music downloads, smoothies and pregnancy testing kits.

    Champagne and fine wines are also being taken out of the basket as, according to alcohol retailers, such high-end products make up less than 5 per cent of the total alcohol spend.
    http://www.irishtimes.com/newspaper/...312308891.html

    The CPI measures price change. It is specifically designed not to take into account changes made by
    households to their pattern of expenditure in response to changes in prices, incomes, family
    composition, tastes, consumer preferences or market conditions.
    Also

    A situation where the rate of inflation remains low but some prices rise at a much faster rate can cause
    confusion and disbelief. The CPI captures all price changes. The CSO has to take account of all
    consumer goods and services whose prices may change at varying rates, with some items falling in
    price, others increasing, and others remaining static.
    The price of a good or service may rise rapidly but this will only impact on the overall rate of inflation if its
    share of total overall consumer expenditure is significant. For example, a 2% increase in the price of
    petrol has a greater effect than a 20% increase in the price of mayonnaise on the overall index.
    http://www.cso.ie/en/media/csoie/sur...ctiontocpi.pdf
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  5. #5
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    Default Re: Ireland becomes more competitive

    Quote Originally Posted by DCon View Post
    House prices are not included for one

    Changing tastes in the Bubble might have increased the cost of living but not the prices of goods measured. Champagne bought instead of Buckfast?

    Champagne actually removed this year!

    http://www.irishtimes.com/newspaper/...312308891.html

    Also


    http://www.cso.ie/en/media/csoie/sur...ctiontocpi.pdf
    Any comment on scented candles, dream catchers and angels?

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    Default Re: Ireland becomes more competitive

    Quote Originally Posted by Baron von Biffo View Post
    Any comment on scented candles, dream catchers and angels?
    Not my job to comment Sir.

    Contact [email protected] for comment
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

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    Default Re: Ireland becomes more competitive

    Quote Originally Posted by DCon View Post
    Not my job to comment Sir.

    Contact [email protected] for comment

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    Default Re: Ireland becomes more competitive

    Quote Originally Posted by Holly View Post
    Bear in mind that the notion of competitiveness as measured by the World Economic Forum (WEF) relates to the ability of entrepreneurs and multinational corporations to make a profit out of the various factors of production in a given country. Depending on the level of development of exploitation of these factors in each group of countries, e.g. the Third World or Europe, different measures are used by the WEF.
    Wages and energy costs, for the most part.

  9. #9
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    Default Re: Ireland becomes more competitive

    a 2% increase in the price of
    petrol has a greater effect than a 20% increase in the price of mayonnaise


    An inflation cul-de-sac (mayonnaise), rather than an inflationary spiral (petrol)

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