Patrick Lynch (economist) facts for kids

Patrick Lynch (born May 5, 1917 – died November 16, 2001) was a very important Irish economist. An economist studies how countries manage their money, resources, and trade. Patrick Lynch believed that the government should play a big part in helping the economy grow. He thought it was important to invest in things like education and to work closely with other European countries, like joining the European Economic Community (which later became the European Union).

Many people saw him as one of the most respected thinkers in Ireland during the 1960s. This was a key time when Ireland's economy started to become much stronger. He taught at University College Dublin (UCD) for many years and also worked for the government. He even led major companies like Aer Lingus (Ireland's airline) and Aer Rianta (which manages airports).

Early Life and Education

Patrick Lynch was born in Dublin, Ireland, in 1917. He was the first child of Daniel and Brigid Lynch.

He went to Catholic University School, which was a school that often sent students to UCD. In 1935, he started studying at UCD. He was very good at his studies, especially in subjects like history, literature, and philosophy. During this time, he became interested in the ideas of famous economists like Alfred Marshall and John Maynard Keynes. Keynes believed that governments should spend money to help the economy during tough times.

Working for the Government (1941-1952)

In 1941, Patrick Lynch started working for the Irish government in the Department of Finance. This department manages the country's money. He worked there until 1948.

He then became a private secretary to the Taoiseach (Ireland's Prime Minister), John A. Costello. Later, he became an Assistant Secretary to the government. Patrick Lynch and another person named Alexis Fitzgerald convinced Taoiseach Costello to use Keynes's ideas for Ireland's economy in 1948. This was a big change and helped the country's economy grow.

Lynch believed that the government should use the nation's money to help everyone. He felt that decisions about big investments shouldn't be left only to private businesses. He also helped create ideas for the "Whitaker plan," which was a plan for economic development that helped Ireland's economy grow a lot in the 1960s. He even developed a rule that encouraged the government to borrow money for important projects that would help the country in the long run.

Teaching and Research (1952-1980)

Patrick Lynch left his government job in 1952 and went back to UCD. He became a lecturer in economics. He was encouraged to do this by Professor George O'Brien, who was known for bringing Keynes's ideas to Ireland.

He also spent some time studying at Peterhouse, Cambridge in England in 1955-1956. He became a professor at UCD in 1966 and continued to teach economics until he retired in 1980. Even after retiring, he was given the special title of Professor Emeritus, which he held until he passed away in 2001.

From 1972 to 1977, he was a member of the Seanad Éireann, which is like the upper house of the Irish parliament. In the 1970s, he also helped set up a special research group at UCD to study how science could help the country's policies.

Patrick Lynch received many special awards and honorary doctorates from different universities because of his important work.

Involvement in Business (from 1954)

Patrick Lynch was very interested in aviation, especially in supporting Ireland's national airline, Aer Lingus. In 1954, he became the chairman of Aer Lingus and also of Aer Rianta, which manages airport facilities. When he started, these companies were losing money, but during his 21 years as chairman, they became very successful and made a profit. He retired from these roles in 1975.

He also worked with banks. He was a director of the Provincial Bank of Ireland and later became a director and deputy chairman of the AIB Group, a major Irish bank. He helped the bank grow and expand into other countries.

Public Service and Important Reports

Patrick Lynch believed that the government should actively help the country's economy and society grow, rather than just letting things happen on their own. He was part of many important groups that advised the Irish government on how to improve the economy.

He also led two big studies that were very important for Ireland:

• The first study looked at Ireland's long-term educational needs. The report, called Investment in Education, helped change how education was planned in Ireland. It made sure that education helped prepare people for jobs.
• The second study looked at what Ireland needed in terms of scientific research and technology. This report, Science and Irish Economic Development, talked about how science could help Ireland's economy. It also looked at energy, noting that Ireland relied on imported oil and gas but had a lot of peat (turf) as a local energy source.

Lynch spent almost ten years working on the National Science Council, which was set up after these reports. He was also a chairman or member of many other important government committees, including those dealing with industry, public service, health research, and higher education.

In 1973, he became the first Irish member of the Club of Rome. This was a group of important thinkers from around Europe who warned governments about the limits of natural resources and the need to find new ways to live sustainably.

He also helped set up the National Library Society of Ireland in 1969 and was chairman of the Institute of Public Administration (Ireland). He was a member of the Royal Irish Academy, a leading academic organization in Ireland.

Civil Rights Work

In the early 1970s, while he was chairman of Aer Lingus, Patrick Lynch was also the chairman of the Irish anti-apartheid movement. This movement worked against the unfair system of racial segregation in South Africa. He also contributed to groups that promoted civil liberties and peace in Ireland.