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Government should listen to Stiglitz - Doherty

25 May, 2015 - by Pearse Doherty TD

Joseph Stiglitz, former chief economist for the World Bank and probably the world's best-known economist, has echoed Sinn Féin's view that the current recovery is not a fair one as inequality is rising and that there danger signs of new bubbles being created. 

Deputy Doherty said the government should be listening to Professor Stiglitz saying:

“As today's Irish Times makes clear, the Nobel prize winner agrees that austerity was both unnecessary and damaging economically, including to the Irish economy. Joseph Stiglitz is a renowned economist and voice we should listen to. 

“He makes the same points we in Sinn Féin have been making. Austerity damaged the economy. It deepened unfairness and inequality in Ireland which means that the recovery is passing most people by. And current policies are storing up future problems, such as the house price bubble without building new homes. 

“The government need to listen to the likes of Professor Stiglitz instead of pandering to demands from people who contributed to the crash and now want a return to the unsustainable Mc Creevy model. Following their poor showing in Carlow/Kilkenny Fine Gael and Labour need to reassess their irresponsible plans for Budget 2016 and instead start taking seriously commentators and economists who are not content to fall into the lazy narrative of this government.”

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