Much of modern economics is about monitoring unsustainable processes and then figuring out what to do about them. Is Ireland’s current corporate tax take sustainable? The recent, rapid fall in revenues suggests the answer is no. As with everything, it depends.   Unsustainable processes are an old story. Each one begins with a glitzy story and, eventually, stops with a boring Excel sheet. Each process evolves through time with multiple dependencies. They look, and are, very complicated. Each process becomes unsustainable when build-ups occur in unexpected places. Each one results in mass economic fallout. Hence all the monitoring. You can see…

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