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Buy Limerick.

  1. 1. BUY LIMERICK. Stephen Kinsella, UL
  2. 2. LIMERICK, 1860'S.
  3. 3. LIMERICK, 1960
  4. 4. LIMERICK, TODAY.
  5. 5. THEORY OF URBAN DEVELOPMENT • From Jane Jacobs to Edward Nell to Paul Romer. • From Copenhagen's finger model to the hub and spoke development process. • Theory of infrastructure
  6. 6. THE LOGIC OF POST WAR IDA LED DEVELOPMENT • Multinationals have skills and money and expertise • We do not. • Give them subsidies and cheap labour and they will come. • Export led growth is the answer. • And it WAS.
  7. 7. TODAY • Economy experiencing growth *only* in export led sectors. • But these sectors are not labour intensive. • So this is a jobless recovery. • Also, GDP figures need to be taken with a barrel of salt.
  8. 8. WHAT DOES THIS MEAN FOR LIMERICK? • We can't and we shouldn't rely on Krups/Dell/Ferenka/etc tonprovide the mainstay of our jobs. • Butwe will not experience any consumption growth (and hence demand for products leading to investment) for some years. • Thisimplies asset prices will fall. This implies the economy will stagnate and the city will die.
  9. 9. THE LOGIC OF KEYNESIAN INTERVENTION • Business cycles mean that at the very moment households firms and banks *should* be spending, they can't. • So the government has to. • Thisis inefficient and most certainly second best. But it's the best we can do.
  10. 10. APPLICATION TO LIMERICK • UL is the biggest entity in the area. • UL is a corporation. • Corporations can borrow. • UL is part of Limerick. • Ul is never leaving Limerick.
  11. 11. FIGHT THE DONUT. • Donut population and price differential between exterior and interior of the city. Centre • Role of feedbacks here as well.
  12. 12. GLOSSES. • Tax breaks for helping beautify the city. • Price changes helping change architecture and art. • Competiton and experimentation. • Limerick as the city of change not the city of sport. • Aninteresting place with a world class university not just at it's doorstep but in it's heart.

A talk discussing just how

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