McDowell needs a lesson in economics

I WAS surprised to hear Michael McDowell holding forth on economics on Matt Cooper’s programme on Today FM. Readers with a memory for this sort of thing will remember his last major foray into that territory.

On that famous occasion he claimed that Ireland (which was possibly in recession at the time) was enjoying growth of 5% per annum because one measure was showing growth of 1.5% in one quarter.

Of course anyone with a cursory interest in economics knew that these figures were always annualised.