Drifting in and out of Socialism: The Case of Ireland

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National economic policy is generally thought to be set through an intellectual battle over social philosophy. Collectivists, with their ideology of greater government control, oppose individualists; with an equally comprehensive theory of limited government-and a nation's level of taxation, regulation, and government ownership is assumed to reflect the relative strength of these contending forces.

This model has tended to fit England and the United States, which have had a recognizable "left" and "right" in their politics. In most countries of the world, however, ideology does not play such a significant role: Politicians and parties are pragmatic, and government interventions …