Eamon Ryan (Dublin Bay South, Green Party)
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Yes. We live in a world where I believe capital has too much power. In the negotiated position of the various factors of production, and because capital can move so fast and is so transferable, it has huge power over labour. Natural capital does not move so it is completely undermined in the current economic system that we have. Everything is designed to support the interests of capital and we forget about the labour and natural capital or costs. A lot of the political problems currently happening around the world are, I believe, because labour rates are not increasing. The share of income going to capital versus labour is historically completely out of kilter, not just in Ireland but across the board. Would the witnesses agree with that view as a broader macroeconomic assessment? Any time, therefore, we have people coming in to say we have to reduce the burden on capital I believe that this is not the world we are in with regard to the big challenge. Let us say we went from 33% down to 25%, which makes rational sense to promote the indigenous economy, where would we get that €200 million from? From what I heard Ms Buckley saying the boarding would come because a rising tide lifts all boats and we would be exporting more.

That is the problem, though. Every country has been saying that for the past 40 years. Since the late 1970s, the ideology has in a sense been that the market knows best. If it is satisfied and freed up, it will deliver. With every country beggaring its neighbour on this front, all it means is that capital generates more profits and labour and natural capital are undermined. This is a broad point. I am uncomfortable with the current imbalance between the power of capital and the power of labour and natural resources.

Before I ask my two questions, I believe that the State-----