Madam, - It may well be true that we should be spending more on education and other public services, but why, oh why do you and other media outlets persist with the fiction that Gross Domestic Product is a relevant measurement of Irish economic activity.
GDP is based on the assumption that the profits of multinationals are retained here as part of the national cake. Since this is clearly not the case, the great majority of economists believe that Gross National Product should be used when comparing the Irish economy with that of other countries.
When this more realistic measurement is used, it is generally found that Irish public spending is around, and in some cases above, the OECD average.
- Yours, etc,
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SEAN WARD, Sutton Park, Dublin 13.