This chapter situates the debate about the social economy in the context of the recent collapse of Ireland’s neo‐corporatist social partnership model and the ongoing economic crises facing Ireland.3 In doing so it examines the paucity of robust public discourse regarding appropriate models of sustainable economic development and the consequences for public policy formulation. It also reviews two distinct rationales for developing the social economy, development and instrumental, through the work of Erik Olin Wright and Elinor Ostrom. The chapter concludes with broad recommendations for policy makers and stakeholders in the social economy.