Seamus Murphy SJ
Much of the world is going through the biggest financial and economic crisis since the Great Depression of the 1920s and 1930s. While the crisis is not as severe as that of the Great Depression, its effects are more widespread, owing to globalisation and the interconnectedness of national economies. It is causing much suffering, as investments that were people’s savings for the future are wiped out, jobs in both the private and public sectors are lost, and public finances come under severe strain.
In this, a follow-up on an earlier Working Notes article which was written before the current financial and economic crisis,1 I explore some of the ethical issues that arise.