Developing a Nation - Ireland Gdp

1. Read the Economist article posted on Canvas titled “Economist Ireland Article,” and then address the following questions:

  a) How much bigger is GDP relative to GNP in the case of Ireland?

Since Irelands large FDI base and its low corporate taxes big companies report big gains in Ireland and transfer them back to headquarters because of this it Irelands GNP is as much as 25% smaller than its GDP.  

  b) What is the reason provided for the discrepancy between GDP and GNP in the case of Ireland?

It allows Ireland to essentially try to get the best of both worlds. When they want to look as if all their people are well they use GDP then when they want to look as if they aren’t t over the top to other nations they go with GNP.

c) According to the article, does GDP under or over states the national income available to spend? What is the implicit assumption the article makes?

GDP would overstate the national income available to spend. The implicit assumption the article makes is that they are making themselves look as if they are far better off than they really are.

 d) Provide a brief but meaningful critique (i.e., an opposing view) to the view described in the previous point.

It would seem to me that Ireland is trying to make themselves look far better off in order to get other countries to produce there more.

 e) Suppose you are now an Irish government official. What figure would you use if you want to bargain for more subsidies within the EU? What if you were peddling the advantages of the “Celtic model of growth” during a World Bank conference in Washington D.C.?  

You would want to use GNP because its measure puts Ireland close to the EU average.  

2) Pick two of the seventeen UN Sustainable Development Goals (available online at: http://www.un.org/sustainabledevelopment ). For each goal, complete the following:

 a) In two-to-three sentences, using your own words, describe each goal.

End Hunger goal states that there are several assets available to make sure no one goes hungry. This would increase the level of living a substantial amount, I there is no hungry people then there is no unnecessary death. If there is food at ease then freedom would also seem to be higher because they would not be begging for food and could hold their heads up a little higher. Holding your head up higher would lead directly to higher self esteem. I would have to agree to a point there are several assets available everywhere and there is definitely enough to go around.

Goal 7: Ensure access to affordable, reliable, sustainable and modern energy for all. I would say we need to stick to this for sure affordable, reliable, sustainable are all the things that energy should be. Energy is never lost or created; therefore the transfer of it should not hurt us economically. Energy would increase level of living by the fact that you are able to have a fridge and able to have air conditioning etc. If you are able to have energy you are able to have computers and what not also so you can gain knowledge and that leads to freedom by knowing what is right and wrong and what rights you may or may not have depending where you are.