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The evolving model of capitalism in Ireland: An insight into enterprise development and policy

Author

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  • Bernadette Andreosso-O’Callaghan

    (University of Limerick, Ireland; Ruhr Universität Bochum, Germany)

  • Helena Lenihan

    (University of Limerick, Ireland)

  • Terrence McDonough

    (National University of Ireland, Galway, Ireland)

Abstract

Contemporary capitalism in Ireland took off in the late 1950s and affirmed itself as an inward investment-focused model of development. With enterprise development at the core of the policy (as a way of developing the economy and society and ending emigration), all other policy domains – financial, governance, industrial relations, welfare and education – became subservient to the ‘industrialization-by-invitation’ strategy. This article examines and characterizes the Irish model of development, using the lens of the varieties of capitalism literature (VoC) as a starting point. The article also examines whether a stage theory of capitalism perspective can capture changes which the VoC perspective might obscure. The collapse of the Irish banking system since 2008 and the subsequent recession raises major challenges for Ireland’s variety of capitalism and may represent a critical juncture.

Suggested Citation

  • Bernadette Andreosso-O’Callaghan & Helena Lenihan & Terrence McDonough, 2016. "The evolving model of capitalism in Ireland: An insight into enterprise development and policy," Economic and Industrial Democracy, Department of Economic History, Uppsala University, Sweden, vol. 37(2), pages 319-344, May.
    • Handle: RePEc:sae:ecoind:v:37:y:2016:i:2:p:319-344
    DOI: 10.1177/0143831X14547116
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