'The mystery of Dublin': Corporate profit-shifting and housing crisis in twentyfirst century Ireland

Abstract

Ireland's economy is currently characterized by two phenomena: a highly globalized growth regime predicated on multinational corporate profit-shifting, and a domestic economy (concentrated in the capital, Dublin) experiencing severe housing crisis. This paper links these two phenomena together, and argues that they be considered as evidence of the emergence of a new accumulation regime, in which a specific mode of integration within the global economy both favours the emergence of, and embeds, particular patterns of domestic rent exploitation. To demonstrate this the paper combines a new synthesis of French régulation theory, as modified to account for transnational dynamics, with an updated reading of Gramsci's analysis of (pre-Fordist) rent exploitation, applying this framework to redefine Ireland's growth model as an emerging transnational accumulation regime of rentier character.

Keywords: accumulation, housing crisis, Ireland, post-Fordism, régulation theory, rentier capitalism