Articles tagged with: Dermot McKenna SJ

Co-operatives and the Economic and Environmental Crisis

on Thursday, 11 March 2010. Posted in Issue 63 A New Economic Paradigm?

Dermot McKenna SJ

March, 2010

Co-operatives and the Economic and Environmental Crisis

Nora Herlihy with President de Valera at the signing of the Credit Union Act, 1996
© Irish League of Credit Unions


The current economic and financial crisis has had an enormous impact across the world. Here in Ireland, we have experienced the harsh consequences of a sharp reversal of economic growth. During 2009, there was estimated fall of over 7 per cent in GDP, and of more than 10 per cent in GNP. Both measures had already shown a drop of 3 per cent in 2008.

A crisis in the Irish public finances has seen our national debt rise dramatically to well over €20 billion; the ratio of General Government Debt to GDP, calculated to have been just over 25 per cent in 2007, soared over the past two years to reach an estimated 65 per cent by the end of 2009.1

We tend to think that law defines what crime is. This makes sense because contemporary legal codes are concerned with marking out the territory where conduct is permissible by specifying the conduct that is outlawed. Yet the earliest bodies of law – consider for example, the Torah or Hammurabi’s Code – are at least as committed to articulating the good as proscribing the bad... Read full editorial

Working Notes is a journal published by the Jesuit Centre for Faith and Justice. The journal focuses on social, economic and theological analysis of Irish society. It has been produced since 1987.