Ideas from the US have a way of making their way into the Irish discourse. This is true in economics as much as anything else. The problem is that fashionable American ideas often don’t work in the Irish context. A good example is Keynesian fiscal spending. It’s an idea that goes back to the 1930s. And it’s always been popular on the left. But in the last few years, it has come to dominate the discussion worldwide. In 2020, economic pundits from Washington to Dalkey are united in the view that governments should borrow and spend freely to revive the…

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