Jim Power | |
---|---|
Other names | Jim Powers [1] |
Occupation | Economist |
Employer | Self |
Television | Prime Time Tonight with Vincent Browne |
Board member of | Agri-Aware, a food awareness body; Chairperson of Love Irish Food [2] |
Jim Power is a self-employed economist and podcaster, previously Chief Economist at Friends First, a subsidiary of insurance multinational Achmea. [3] [4] From Waterford, Ireland, he is married and has children. [5]
Power attended University College Dublin (UCD). [3] He has worked for the Bank of Ireland as its Chief Economist, and for Allied Irish Banks as its Treasury Economist. He teaches at Dublin City University and at UCD's Michael Smurfit Graduate Business School. [3]
His weekly column features in the Irish Examiner , and he is often to be seen commentating in Ireland's media, in newspapers, on radio and on television programmes such as Tonight with Vincent Browne . [3] [4] He also edits Friends First's Quarterly Economic Outlook. [3]
In April 2007, Power appeared on Prime Time where he vehemently opposed UCD Professor of Economics Morgan Kelly's warning that Ireland was heading for economic disaster. Power repeatedly insisted that the Irish property bubble would become "more sustainable in the long term", that it would not burst, and that "the reality is that those things [soaring interest rates, employment shortage, a lot of foreign multinationals leaving the country] are unlikely to happen". Within months it had. [6]
Power later took to writing about the financial crisis. His first book, Picking Up the Pieces, appeared in 2009. [7] Dublin Central TD Paschal Donohoe said it was a "humane thought provoking book." [8]
He now[ when? ] hosts his own podcast the Other Hand, with fellow economist Chris Johns. [9]
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The Irish property bubble was the speculative excess element of a long-term price increase of real estate in the Republic of Ireland from the early 2000s to 2007, a period known as the later part of the Celtic Tiger. In 2006, the prices peaked at the top of the bubble, with a combination of increased speculative construction and rapidly rising prices; in 2007 the prices first stabilised and then started to fall until 2010 following the shock effect of the Great Recession. By the second quarter of 2010, house prices in Ireland had fallen by 35% compared with the second quarter of 2007, and the number of housing loans approved fell by 73%.
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Morgan Kelly is Professor of Economics at University College Dublin (UCD). Described by The Irish Times as the country's official soothsayer, Kelly notably predicted the bursting of the Irish property bubble.
University College Dublin is a public research university in Dublin, Ireland, and a member institution of the National University of Ireland. With 38,417 students, it is Ireland's largest university, and amongst the most prestigious universities in Europe. Five Nobel Laureates are among UCD's alumni and current and former staff. Additionally, four Taoisigh and three Irish Presidents have graduated from UCD, along with one President of India.
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Irish economist Jim Powers told me