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Mixed Blessings

Prosperity and Change in the Emerald Isle


Old and new Ireland meet in Limerick's White House pub.
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Old and new Ireland meet in Limerick's White House pub.
Brain Power

While low labor costs initially were part of the allure for large corporations, as salaries have risen, there has been a shift from manufacturing computers, for example, to software. Today Ireland is one of the world's leading exporters of software. Ireland has been able to keep up with the changes due to heavy government investment in secondary education, including making all secondary education free. The overall admission rate for higher education in Ireland has increased by 11 percent since 1998 and is now 55 percent of 17- to 19-year-olds.

The outlay on education is paying off. One third of foreign investment in the pharmaceuticals and health care industries in Europe is made in Ireland. Over 20 percent of new U.S. investment in Europe is committed to Ireland, more than twice the U.S. investment in China. Increasingly, Ireland's economy has become tied to America rather than Britain.

Credit: Kieran Clancy/PicSure


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