Latest news with #TheDependencyTrap
Irish Independent
26-05-2025
- Business
- Irish Independent
Wexford student wins Young Economist of the Year 2025 for project on Ireland's reliance on multinationals
It was something pondered by CBS student Mir Hasibullah Zia and what started out as a passing curiosity has resulted in him being crowned Young Economist of the Year 2025. His project, The Dependency Trap – How Ireland's Reliance on Multinationals Deepens Economic Imbalances, focuses on how multinational corporations (MNCs) create inequality in the Irish economy and in society, as well as impacting the environment. "The main aim was to find out the advantages and disadvantages of MNCs in Ireland and how we can pivot towards a more diverse and less MNC reliant Ireland,' Hasib says. "In my project, I explained how our dependency on MNCs have a lot of hidden costs. Apart from obvious issues such as being dependent on corporation tax, MNCs contribute to regional disparities gender inequality, wage inequality, and even effect the cost-of-living crisis. They also contribute heavily to Ireland's total energy consumption, thus, creating the majority of CO2 emissions.' It was Hasib's innate curiosity that drove the project, which ultimately resulted in him taking the top prize at the award ceremony in Sligo. "It came about from being bored really,' Hasib smiles. 'I was listening during an Economics class in school and my teacher said that Ireland is heavily dependent on MNCs and that without them we are doomed. "This prompted me to ask myself: Ireland being one of the best nations in terms of education, and wealth, will it be really doomed? I started watching YouTube videos about MNCs just to have an idea of what they are, but then it eventually led to me researching them and it all culminated in me winning the young economist prize.' It was an incredibly proud moment for Hasib and his family when he was presented with the trophy, as well as the whole CBS school community.
Irish Independent
25-05-2025
- Business
- Irish Independent
Researching the role of multinationals while ‘bored' culminates in Young Economist award for Wexford student
It was something pondered by CBS student Mir Hasibullah Zia and what started out as a passing curiosity has resulted in him being crowned Young Economist of the Year 2025. His project, The Dependency Trap – How Ireland's Reliance on Multinationals Deepens Economic Imbalances, focuses on how multinational corporations (MNCs) create inequality in the Irish economy and in society, as well as impacting the environment. "The main aim was to find out the advantages and disadvantages of MNCs in Ireland and how we can pivot towards a more diverse and less MNC reliant Ireland,' Hasib says. "In my project, I explained how our dependency on MNCs have a lot of hidden costs. Apart from obvious issues such as being dependent on corporation tax, MNCs contribute to regional disparities gender inequality, wage inequality, and even effect the cost-of-living crisis. They also contribute heavily to Ireland's total energy consumption, thus, creating the majority of CO2 emissions.' It was Hasib's innate curiosity that drove the project, which ultimately resulted in him taking the top prize at the award ceremony in Sligo. "It came about from being bored really,' Hasib smiles. 'I was listening during an Economics class in school and my teacher said that Ireland is heavily dependent on MNCs and that without them we are doomed. "This prompted me to ask myself: Ireland being one of the best nations in terms of education, and wealth, will it be really doomed? I started watching YouTube videos about MNCs just to have an idea of what they are, but then it eventually led to me researching them and it all culminated in me winning the young economist prize.' It was an incredibly proud moment for Hasib and his family when he was presented with the trophy, as well as the whole CBS school community.
