ANALYSIS/IDA ANNOUNCEMENT: In ancient Rome, generals laid before their Caesar and their senate the spoils of their military victories. We have similar ritual in the Republic today. Last week, National Treasury Management Agency (NTMA) chief executive Michael Somers laid further reductions in the State's national debt before Minister for Finance Brian Cowen, as contained in the NTMA annual report.
Yesterday, it was the turn of IDA Ireland chief executive Seán Dorgan, whose organisation has secured a further five research and development investments in the information technology, pharmaceutical and banking sectors.
Today, generals may win the victories but Caesars (or aspiring ones) announce them. Yesterday this was the prerogative of Minister for Enterprise, Trade and Employment Mícheál Martin (he repeatedly congratulated the IDA, in fairness).
With this prerogative comes a responsibility to ensure that the spoils contribute to the general welfare as well as to the credit of political masters - for the people and the senate of Rome, as they would have said in ancient days, not just the glory of Caesar.
Yesterday's conquests have been made on three frontiers - information technology, banking and pharmaceuticals.
Great victories indeed but what good comes from them? Only 50 jobs will result from the €53.3 million invested as a result of these projects, a fraction of the number of jobs recently lost in other sectors of manufacturing.
According to Mr Dorgan, these are high-tech investments creating intellectual property that strengthen the State's knowledge base. But the creation of these well-paid jobs contrasts with the grim prospects for wage growth in other parts of manufacturing. In manufacturing, the rich are getting richer and the poor poorer.
On the positive side, yesterday's announcement was reasonably spatially balanced. Not only Dublin, but Cork, Waterford and Galway will benefit.
But how will this hard-won intellectual capital create future jobs in the Republic?
By maintaining our low taxes, our skilled workforce, our flexible business climate and EU membership, according to Mr Martin.
But a clearer plan is needed. The victories of the Roman army were often squandered by the inaction of its political masters. Will this happen here?
In the autumn, the Government will publish a strategic implementation plan for research which may answer that question.
