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During the Eurozone crisis, Ireland would come to be regarded widely as a ‘poster child’ for the remedial powers of the austerity agenda and as a ‘role model’ for the other heavily indebted states. In this article, we offer a critical reading of the narrative of an Irish ‘recovery’ that has gained currency over recent years. Tracing the genealogy of terms such as ‘poster child’ and ‘role model’ reveals that they predate the recent apparent revival in Ireland’s economic fortunes. The specific point of origin of these metaphors suggests that the often euphoric discourse that has come to attend the Irish economy articulates a very specific political enterprise. In their efforts to cast the country as the harbinger of economic ‘recovery’, powerful political players have sought to make ideological use of Ireland to ensure that repayments would continue to flow from those European countries in which private bank debts were socialized after the crash. The success of this endeavour has meant that the crisis in the Eurozone has been resolved in the interests of those powerful forces that sparked it in the first place.

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These are scarcely auspicious times for the left. An unfortunate confluence of recent social and political trends has conspired to question seriously the value of materialist interpretations of the world. The reconstruction of western societies out of the debris of the economic crises of the nineteen seventies has led to the emergence of increasingly intricate class hierarchies. Changed work practices and accelerated consumption have both served to blur the boundaries between previously distinct social strata. The increasingly complex and dynamic nature of contemporary bourgeois society has invited predictable and indeed opportunistic responses from neoliberal critics. Most famously the political scientist Francis Fukuyama (1989, 1992) has declared that we are living through the end of history. The unprecedented material wealth and optimal political freedom that global capitalism has allegedly afforded humanity have ensured, Fukuyama insists, that the notion of social class has effectively ceased to have real meaning.

The return of the Irish Republic to economic growth after years of recession has been hailed as a vindication of the country’s adherence to strict austerity policies after the crash. In this article, we provide a critical reading of this familiar rendition of the recent turn in Ireland’s economic fortunes. We argue that the discourse of ‘recovery’ is an ideologically partisan reading that distorts the scale, origins and benefits of the recent spell of growth in the Irish economy. A close examination of each of these distortions suggests that the current economic revival has occurred in spite, rather than because, of the austerity strategy and has resulted in the lives of many ordinary Irish people becoming not better but worse.