The Nassau Institute: Can The Bahamas import the Irish Miracle?

Can The Bahamas import the Irish Miracle?

2 November 2007

Ralph J. Massey VP Nassau Institute

Irish prosperity has been described recently as a “Miracle” and countries who have not experienced such prosperity inevitably ask “Can we import the Irish miracle?”

Answering that question is not an easy task…but let’s start with bit of history.

The Miracle

In 1841 before the potato famine of 1845 the present Republic had a population of 6.5 million people; and between 1845 and 1926 the population shrunk to 3 million as a result of famine, emigration and the guerrilla war of independence (1919-1922).

And it declined further to a low of 2.8 million in 1961 because of –

• The negative impact of policies to reduce the British presence,
• Strongly socialist and pro-labor policies that shackled the private sector.
• An agricultural economy that exported primarily to Great Britain, and
• An educational system that supported those objectives. There were no free public high schools and tertiary education was two good but traditional universities.

The focus of educators, clerics, planners, and politicians for a generation after independence was “parochial, rural, neo-Gaelic (i.e. Gaelic speaking) and, above all, Catholic.” Dismal job prospects within Ireland fueled emigration that more than offset the natural population growth.

For a PDF of the complete essay click here...

Comments

A. Brooks - 12 November 2007 12:57

Re: Irish Miracle

Mr. Wirth: I do agree with you that a national lottery alone will not fund the needed education reform that we so desperately need here in the Bahamas, but it will be at the least ($30,000,000-$50,000,000 profit annually) a step in the right direction. We could use this extra income to finance some pilot programes to see what works for us and what doesn't. Every year we increase the education budget (195,000,000 presently) but the only people that benefit are the contractors that repair our schools. I refuse to accept that Bahamian kids have the mental capacity of a "D" average student. We, the adult society, are the one's with the "D" average, at best. We need to change the way we teach our kids. What worked thirty years ago obviosly is not working in the 21 st century. We need to make bold and innovative changes. What do we have to lose anyway? Aren't we already a country of "D" adults? Oh, I meant to say students. If we wait until we "strike oil" or "hit the lottery" then we are already doomed. In order to reach the mountain top you must take that first step!

G.J.Wirth - 7 November 2007 04:40

Irish Miracle

Mr.Brooks: don't try to rely on the potential Treasury revenue of a National Lottery - having examined the concept thoroughly, although it would be an excellent commercial business the potential Treasury revenue is far far from being what Education funding will require.
The positive aspect would be that 50% of the gross sales would go into Lottery Prizes which you certainly do not see to-day with Numbers.
As I wrote in my original comment: without a major external multi-million annual increase in capital ,guaranteed , I certainly don't see this possible although we all would rejoice with the prospect. ofcourse if we find Oil then things can change! Remember it takes 7-years between finding and pumping .

A. Brooks - 6 November 2007 15:01

The Irish Miracle

Not only do I think that we can duplicate the "Irish Miracle", I know we can surpass it if we just make it our mandate to do so. Politicians will need to make some tough and unpopular decision and stop worrying about being re-elected. Everybody knows that a legalized lottery can fund education reform but we like to call ourselves a "Christian" nation. How can we tell our kids it is wrong to commit crimes when there are illegal numbers houses ("web cafe") on almost every major street in the Bahamas and we wonder why the crime rate is so high. Getting back to education reform- I think we need to implement some sort of eduacation reform and stop consultating and reconsultating and still years later we have not taken any action. No plan is going to be perfect but inaction will gaurantee the same results. Secondly we have to make it a priority to educate the tertiary and high school students not to mention the masses on wealth creation and financial independence. If we taught our people how to acquire wealth, we would one day be a nation of millionaire's. Maybe it's just a dream of mine, but I will do my best to make it our reality!

G.J.Wirth - 4 November 2007 04:38

Can we emulate Ireland ?

There is no doubt that the Irish Government and People made in their decision to join the European Union the only decision to cause the Economic Development that has resulted. Unfortunately for The Bahamas there is NO Economic grouping like the EU for us to join thru which process we will on joining and subsequently receive ANNUALLY Multi-Million Dollar Economic Grants for our share in the 'Community'.
For The Bahamas to imitate the Irish so-called 'Miracle' we will require a substantial Capital Investment from the Bahamian Tax-payers in fundamental matters such as Education, accepted no miracle will happen without a substantial improvement on the norm of the past 20+ years of Bahamian education and realisation and mobilisation of what Capital Development funding that is available to a more focused end that of creating Economic Development rather than what is preferred to-day and policy of marketing high-profit consumer loans for consumer products.
It has to be frightening that the Credit Card debt is now over $220 Million ! (Cen.Bank of Bahamas)
If Bahamians are unwilling to commit then it is inevitable that we will irrespective of the annoyance to some 'nationalists' have to rely on the foreign investor will be the creator of the required Bahamas-Miracle. It is our choice? Fancy throw-away merchandise against a new vibrant economy with a future for our children and grand children ?

Recent Comments

Comments

Add new comment: