It would be wrong not to have a thread on the latest unemployment and emigration data.
Together with the recent data on our consumer price level, relative to the rest of the EU, they show (as if there were any doubt on the matter) that even in small, open, flexible Ireland, the current poster boy for the EU’s preferred austerity/internal devaluation strategy, wage and price flexibility — while impressive — isn’t what certain macro theories assume it to be.