- Morgan Kelly (Irish economist)
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This article is about the Irish economist. For the Canadian actor, see Morgan Kelly.
Morgan Kelly is a Professor of Economics at University College Dublin.[1] He is noted for his pessimistic predictions regarding the Irish economy. The Irish Times has described him as Ireland's official soothsayer.[2]
Irish Property Bubble and Banking Crisis
Kelly predicted in 2007 that property prices were going to crash by 60% based on empirical evidence of past property crashes. Kelly has garnered praise from fellow economists for his prediction of the collapse of the property market.[3]
Kelly was implicitly criticized by the then Taoiseach, Bertie Ahern in July 2007 for his articles predicting a property crash; "Sitting on the sidelines, cribbing and moaning is a lost opportunity. I don't know how people who engage in that don't commit suicide because frankly the only thing that motivates me is being able to actively change something." Ahern subsequently apologized for the remark.[4][5]
Kelly takes the view that the Irish state should not have put itself forward as guarantor for the Irish banks in September 2008.[6]
As of May 2011, Kelly is now suggesting that bankruptcy for the state of Ireland is a possibility.[7]
References
- ^ http://www.ucd.ie/economics/staff/profmorgankelly/
- ^ http://www.irishtimes.com/newspaper/finance/2010/1231/1224286534463.html
- ^ Jon Ihle (2010-10-10), We warned you: critics of government proved right, Sunday Tribune
- ^ Freefall, broadcast September 2010, RTÉ Television
- ^ Claire Murphy (2010-08-27). Bertie blames banks for all our cash woes, Evening Herald (herald.ie)
- ^ Morgan Kelly (2010-11-10). Op-Ed piece, Irish Times
- ^ Morgan Kelly (2011-05-14). Op-Ed piece, Irish Times
Categories:- Irish academic biography stubs
- Economist stubs
- Irish columnists
- Irish journalists
- Irish economists
- Living people
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