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Opinion
Tyler Cowen

The Irish Are Rich in Foreign Investment

A country's GDP gives a better sense than GNP of its future economic prospects.

Google’s investment bodes well for Ireland’s economy.

Google’s investment bodes well for Ireland’s economy.

Photographer: Hollie Adams/Bloomberg

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By one measure, Ireland is one of the wealthiest countries in Western Europe. By another, it is in the middle of the pack.

What is going on, and why does it matter?