Economic development
enterprise development
financial crisis
political economy
public policy
social structures of accumulation
varieties of capitalism
FOREIGN DIRECT-INVESTMENT
FINANCIAL SERVICES CENTER
REGIONAL-DEVELOPMENT
CELTIC TIGER
GLOBALIZATION
DISPLACEMENT
CONVERGENCE
DEADWEIGHT
ECONOMIES
GROWTH
Contemporary capitalism in Ireland took off in the late 1950s and affirmed itself as an inward investment-focused model of development. With enterprise development at the core of the policy (as a way of developing the economy and society and ending emigration), all other policy domains - financial, governance, industrial relations, welfare and education - became subservient to the industrialization-by-invitation' strategy. This article examines and characterizes the Irish model of development, using the lens of the varieties of capitalism literature (VoC) as a starting point. The article also examines whether a stage theory of capitalism perspective can capture changes which the VoC perspective might obscure. The collapse of the Irish banking system since 2008 and the subsequent recession raises major challenges for Ireland's variety of capitalism and may represent a critical juncture.