[rsynnott]

As an Irish person, I would not _particularly_ recommend Ireland in 1970 as a model to aspire to.

And even given that, the banks did not actually fail, they just weren’t operating, and the expectation was that they would start back up again at some point. When Ireland actually faced the banks failing, in 2008, we bailed them out and nationalised most of them, at a cost of almost 10,000 euro per capita.

[fullspectrumdev]

Arguably the only reason it worked out fine (for some value of fine) in the 1970’s was because everything being a shitshow was the generally accepted state of affairs, and for a lot of normal working people being paid cash was still normal.