The Fourth Industrial Revolution, The Irish Model

So apparently, we are due for a fourth industrial revolution, which might come as a surprise to you because as far as most people can tell we have only had one industrial revolution, and some nations haven't even got around to that one yet. All the same, this promise of a radical shift in the way we live our lives has got a lot of economists very excited and maybe a little bit anxious, both for very good reasons. The first industrial revolution, you know the one that we all think is the only industrial revolution was responsible for giving us production. This production went on to define our way of life in the modern world where people in advanced economies have access to practically unlimited food, robust housing, and bits and bobs to fulfill our every little desire. The world before this was very stagnant. The idea that we have economic growth at all, where society is always advancing and every generation is richer than the one that came before it is a surprisingly modern ideology. Ireland, or more specifically the Republic of Ireland which is a sovereign nation that is home to 5 million people who are all quickly becoming some of the wealthiest citizens in the world. Ireland now has a GDP per capita of over $90,000 meaning they are well ahead of traditionally wealthy nationals or regions like Switzerland, Hong Kong and Norway and only placing behind statistical outliers like Luxembourg, Singapore and Qatar. What's more is that Ireland is on track to be the fastest-growing economy in 2020 a year that has seen most nations fall behind. It has achieved this despite historically being very dependent on trade and tourism which has of course been a lot more difficult in a world of closed borders. So, it looks like there should be a lot to learn from this country that could potentially be adapted to our own economies so that we too may share in the luck of the Irish right? Well, that's what the figures might have you believe but it may not be the whole story...