Oct 4, 2026 · 15 min · 7 segments
With the budget just around the corner, will the fiscal and macro spending the government announce match up to the various leaks we have been seeing over the past few weeks? But if there was not…
Edgar MorgenrothGuest
Ciara DohertyHostOne is the government, and I think it was in your earlier piece on it, the government has lost the communications war entirely on that.
And there is a sense that they have both promoted the idea that they can be all things to all people.
And I think there's a broader issue in terms of, I think economics has let people down over the last 20 years because over the...
But the major feeling among populations right around the world is that people feel left behind by this.
And, of course, you see the rise of MAGA in the U.S., You see the rise of the far right in Germany.
So I think economics has done a bad job in terms of what the budget can and should do.
But I also think we do have to be careful that the economy is doing well here.
We are producing a lot of economic activity and we have to be careful that everyone feels they get some small slice of that pie.
Do you agree with that, Edgar, that economics has let people down and that people feel, notwithstanding the figures that we see, the narrative, the economy is booming, we are awash with money, corporation tax receipts blowing records again this month, but for different reasons, but that ultimately too many people feel they've been left behind?
It's not the discipline of economics that left people behind, but it's economic policies and economic actions that are going on that have given people that feeling.
In some respects, this isn't quite warranted, but in other respects, there are absolutely real reasons why people or some people feel very aggrieved.
You know, if you are someone who is seeking housing in Ireland at the moment, if you're a renter, you're probably quite rightly aggrieved.
If you're someone, one of the over 30% who owns a property without a mortgage, you don't have a housing problem.
So it's not as simple to say that everyone's kind of left behind and so on, and it's not the economists that have, you know, we've been advising or trying to to overcome some of these issues.
But the way the economy and economic policies by governments have gone has certainly not been appreciated by a lot of people.
You say, look, if you're a renter out there and you are struggling to get on the housing ladder in this country, you are right to feel aggrieved because it is so difficult.
One is the government, and I think it was in your earlier piece on it, the government has lost the communications war entirely on that.
And there is a sense that they have both promoted the idea that they can be all things to all people.
And I think there's a broader issue in terms of, I think economics has let people down over the last 20 years because over the...
But the major feeling among populations right around the world is that people feel left behind by this.
And, of course, you see the rise of MAGA in the U.S., You see the rise of the far right in Germany.
So I think economics has done a bad job in terms of what the budget can and should do.
But I also think we do have to be careful that the economy is doing well here.
We are producing a lot of economic activity and we have to be careful that everyone feels they get some small slice of that pie.
Do you agree with that, Edgar, that economics has let people down and that people feel, notwithstanding the figures that we see, the narrative, the economy is booming, we are awash with money, corporation tax receipts blowing records again this month, but for different reasons, but that ultimately too many people feel they've been left behind?
It's not the discipline of economics that left people behind, but it's economic policies and economic actions that are going on that have given people that feeling.
In some respects, this isn't quite warranted, but in other respects, there are absolutely real reasons why people or some people feel very aggrieved.
You know, if you are someone who is seeking housing in Ireland at the moment, if you're a renter, you're probably quite rightly aggrieved.
If you're someone, one of the over 30% who owns a property without a mortgage, you don't have a housing problem.
So it's not as simple to say that everyone's kind of left behind and so on, and it's not the economists that have, you know, we've been advising or trying to to overcome some of these issues.
But the way the economy and economic policies by governments have gone has certainly not been appreciated by a lot of people.
You say, look, if you're a renter out there and you are struggling to get on the housing ladder in this country, you are right to feel aggrieved because it is so difficult.
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