Mark Carney: The future of work

Text of the 2018 Whitaker Lecture by Mr Mark Carney, Governor of the Bank of England, at the Central Bank of Ireland, Dublin, 14 September 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

It is a pleasure to deliver this lecture in honour of TK Whitaker.

Whitaker's career in public policy spanned a period of profound structural change in the Irish economy. In 1956, when he became Secretary of the Department for Finance, the Irish economy was isolated and uncompetitive. Growth in output per capita was lagging the rest of Europe and the steady tide of emigration was gradually shrinking the population. By the time Whitaker's career drew to a close, the Celtic Tiger was roaring: Ireland had caught up with even the most prosperous nations in the EU, GDP growth was averaging over 5%, and the population had increased by two-thirds as emigration switched to immigration.