Published October 13, 2012

The Good Room

Available from Easons, Amazon UK and Amazon US.

This is my new book to be published on October 27th. It is a new way of looking at the economy because it is written through the eyes of a pregnant 32 years old teacher, Olivia Vickers. Olivia is the amalgamation of more than a few people I have met over the years who find themselves trapped between negative equity, a huge mortgage and negative equity. She is your sister, your daughter, your wife or your girlfriend.

Hers is the story of a generation, and more than anything else reinforces the point that economics is not about reams of figures such as GDP, inflation, or the current account, but it is the business of real people’s lives’.

In terms of economic policy, conventional wisdom and how it will change in the years ahead in Ireland, the central message of the book is that conventional wisdom — such as that followed and endorsed by the Irish establishment at the moment — is never defeated by some great countervailing idea which persuades the elite to change direct. Conventional wisdom is blown away by the great march of events. And the great big events are only the agglomeration of thousands of small events happening everyday, in every town and village all over the country in ordinary people’s lives — people like Olivia Vickers.


Ireland is deeply in debt, beholden to the IMF, the EU and the bond markets. Its economy is frozen, and years of austerity are ahead.

It didn’t have to be this way – and it doesn’t have to be this way. In The Good Room, David McWilliams, who wrote about the dangers of the Irish property bubble and imbalances within the eurozone at a time when other commentators were saying everything was fine, explains the bizarre economics behind Ireland’s current predicament, and illuminates a radically different path for the country. He illustrates the consequences of debt and austerity for ordinary Irish people and explains why austerity can’t work. And he shows that history offers numerous useful models for Irish recovery – provided we open our eyes to them.

The Pope’s Children was the book that connected the dots between economics and daily life in Ireland during the boom years. The Good Room does the same for the Ireland of the bust, and is – in its call for a completely different approach – an even more urgent and necessary work.

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  5. [...] David McWilliams’ new book ‘The Good Room’ is out now. tweetmeme_url = ''; Categories: Articles | Irish Independent Next Article: Boom and bust cycle is the same Down Under Upload a Gravatar to include a profile picture with your comment. Add your comment below. Click here to cancel reply. You must log in to post a comment. April 3, 2012 Re Eircom Examinership this week, thoughts from 2000 on similarity between Railway Mania and Eircom November 22, 2012 Goodbye to all that: just what would we do if UK left EU? November 16, 2012 Punk Economics – Global Food Economics February 10, 2012 Audio: The Champagne is Flowing Again January 4, 2012 David McWilliams Interview with Alistair Darling Speaking News Interviews Podcasts Publications – The Pope's Children – The Generation Game – Follow the Money – Addicted to Money Articles – Banks – Celtic Tiger – Debt – Euro – International Economy – Ireland – Irish Economy – Irish Independent – Markets – People – Politics – Property – Sunday Business Post Home About Contact Register Subscribe Log In Edit your Profile Manage Subscriptions Going on ray darcy now to chat about "the good room"Follow David on Twitter © David McWilliams 2011 Web Design by Susan Gallagher Design [...]

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