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Moral economy refers to economic activities viewed through a moral, not just a material, lens. The definition of moral economy is constantly revisited depending on its usage in differing social, economic, ecological, and geographic situations and times. The concept was developed in 1971 by the British
Marxist Marxism is a left-wing to far-left method of socioeconomic analysis that uses a materialist interpretation of historical development, better known as historical materialism, to understand class relations and social conflict and a dialecti ...
social historian and political activist
E. P. Thompson Edward Palmer Thompson (3 February 1924 – 28 August 1993) was an English historian, writer, socialist and peace campaigner. He is best known today for his historical work on the radical movements in the late 18th and early 19th centuries, in ...
in his essay, "The Moral Economy of the English Crowd in the Eighteenth Century", to describe and analyze a specific
class struggle Class conflict, also referred to as class struggle and class warfare, is the political tension and economic antagonism that exists in society because of socio-economic competition among the social classes or between rich and poor. The form ...
in a specific era, from the perspective of the poorest citizens—the "crowd". While Thompson had used the term moral economy in his 1963 book ''
The Making of the English Working Class ''The Making of the English Working Class'' is a work of English social history written by E. P. Thompson, a New Left historian. It was first published in 1963 by Victor Gollancz Ltd, and republished in revised form in 1968 by Pelican, after ...
'', it was in the 1971 essay that he provided a thick description of the centuries-old paternalistic feudal moral economy of production and exchange that was rapidly being replaced by the classical political economy. Thompson saw the "crowd" as subjects, not objects, of history. He used the analytical tools of the emerging discipline of social history, writing a " history from below" to provide evidence of how the "crowd" of "tinners, colliers, weavers, hosiery workers, and labouring people" made the decision to riot. They grieved the loss of their livelihood, and faced hunger and in some cases starvation. Thompson traced the root causes to the combined effects of the enclosure system, profiteering during deprivation, soaring prices, and other practices that Thompson associated with free trade, the
free market In economics, a free market is an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers. Such markets, as modeled, operate without the intervention of government or any ot ...
, and the ''
laissez-faire ''Laissez-faire'' ( ; from french: laissez faire , ) is an economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies) deriving from special interest groups ...
'' system he identified with
Adam Smith Adam Smith (baptized 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment. Seen by some as "The Father of Economics"——� ...
's 1776 book ''
The Wealth of Nations ''An Inquiry into the Nature and Causes of the Wealth of Nations'', generally referred to by its shortened title ''The Wealth of Nations'', is the '' magnum opus'' of the Scottish economist and moral philosopher Adam Smith. First published in ...
''. Thompson revealed how peasants' grievances were underpinned by a popular consensus on which moral values constitute a moral economy. This included social norms, and mutual obligations and responsibilities of the various members of a community. As protective laws disappeared, and previously illegal activities became legal or normalized, peasants experienced actual deprivation, and in extreme cases, starvation. Thompson said that the riots were not just a response to physical hunger, but to outrage against what rioters perceived to be the immorality of the new economic system that caused the deprivation. The term moral economy extends historically to the 18th century. In the 1830s, it was used as a
criticism of capitalism Criticism of capitalism ranges from expressing disagreement with the principles of capitalism in its entirety to expressing disagreement with particular outcomes of capitalism. Criticism of capitalism comes from various political and philoso ...
, and the classical political economy. Thompson re-invented and rigidly defined and analyzed the concept. In his 1991 review of his 1971 article and its numerous critics, Thompson said that his use of the concept was set within a specific historical context. In order for the concept to be useful, it requires a constantly renewed language. Through the work of the political scientist James C. Scott in the 1970s and 1980s the concept became more widely used. Scott re-appropriated the concept of moral economics in reference to the experience of 20th century peasants engaged in
subsistence agriculture Subsistence agriculture occurs when farmers grow food crops to meet the needs of themselves and their families on smallholdings. Subsistence agriculturalists target farm output for survival and for mostly local requirements, with little or no ...
in southeast Asia. The term is unusual in that it was developed by an historian, made popular by a political scientist, and used in disciplines and area studies such as political science, economics, sociology, anthropology, cultural studies, and ecology. In the 21st century, the term moral economy suffered from a confusing array of definitions, including those that refer to economic activities through a "moral and simplistic" lens.


Use of the term in the 19th century

According to E.P. Thompson, James Bronterre O'Brien used the term in his 1837 criticism of 19th century political economists. Bronterre wrote this anti-capitalist polemic: "True political economy is like a true domestic economy; it does not consist solely in slaving and saving; there is a moral economy as well as political... These quacks would make wreck of the affections, in exchange for incessant production and accumulation... It is indeed the moral economy that they always keep out of sight. When they talk about the tendency of large masses of capital, and the division of labour, to increase production and cheapen commodities, they do not tell us of the inferior human being which a single and fixed occupation must produce."


Thompson's concept

The British Marxist historian
E. P. Thompson Edward Palmer Thompson (3 February 1924 – 28 August 1993) was an English historian, writer, socialist and peace campaigner. He is best known today for his historical work on the radical movements in the late 18th and early 19th centuries, in ...
, who self-described as an empiricist, spent almost a decade gathering evidence for his 1971 '' Past & Present'' journal article "The Moral Economy of the Crowd in Eighteenth Century". The article was based on a collaborative project he had undertaken in 1963 with Richard Charles Cobb, who was working on 18th and 19th century protests in France. There is a strong relation between Thompson's "historical writing and his political engagement". In the 1960s, he sided with the students in the
student protests Campus protest or student protest is a form of student activism that takes the form of protest at university campuses. Such protests encompass a wide range of activities that indicate student dissatisfaction with a given political or academi ...
at his university, and in the 1980s, he was the most well-known antinuclear intellectual activist in Europe. In his 2017 book, ''The Moral Economists'', Tim Rogan included Thompson in his trio of the 20th century's "most influential critics of capitalism"—along with R. H. Tawney (1880–1962) and
Karl Polanyi Karl Paul Polanyi (; hu, Polányi Károly ; 25 October 1886 – 23 April 1964),''Encyclopædia Britannica'' (Chicago: Encyclopædia Britannica Inc. 2003) vol 9. p. 554 was an Austro-Hungarian economic anthropologist and politician, best known ...
—who were read by a broad base of readers, informed research, and had a major influence on public opinion. They were historians—not economists—who challenged utilitarianism in economics as outsiders to the field. They were "theorists of everything economists left out." Tawney, like Thompson, compared the way in which early societies had maintained social cohesion through their norms and mores, in contrast to the "rugged individualism promoted by utilitarianism". Thompson first used the term moral economy in ''
The Making of the English Working Class ''The Making of the English Working Class'' is a work of English social history written by E. P. Thompson, a New Left historian. It was first published in 1963 by Victor Gollancz Ltd, and republished in revised form in 1968 by Pelican, after ...
'' in reference to the 1795
food riots Food riots may occur when there is a shortage and/or unequal distribution of food. Causes can be food price rises, harvest failures, incompetent food storage, transport problems, food speculation, hoarding, poisoning of food, or attacks by ...
in England. 2nd edition with new postscript, Harmondsworth: Penguin, 1968, third edition with new preface 1980. Thompson's
social history Social history, often called the new social history, is a field of history that looks at the lived experience of the past. In its "golden age" it was a major growth field in the 1960s and 1970s among scholars, and still is well represented in his ...
, which is associated with history from below,Black and MacRaild wrote that Thompson's 1966 essay, 'History from below', in the ''Times Literary Supplement'' "was the real starting point, not only of the term, but of attempts to define it, to intellectualise about it, and to give it a coherent agenda..."
Howard Zinn Howard Zinn (August 24, 1922January 27, 2010) was an American historian, playwright, philosopher, socialist thinker and World War II veteran. He was chair of the history and social sciences department at Spelman College, and a politica ...
's 1980 book, ''
A People's History of the United States '' A People's History of the United States'' is a 1980 nonfiction book by American historian and political scientist Howard Zinn. In the book, Zinn presented what he considered to be a different side of history from the more traditional "fund ...
'' introduced the concept to a wider audience.
like that of other British social historians—
Raphael Samuel Raphael Elkan Samuel (26 December 19349 December 1996) was a British Marxist historian, described by Stuart Hall as "one of the most outstanding, original intellectuals of his generation". He was professor of history at the University of East L ...
and Christopher Hill—had its antecedents in Georges Lefebvre and the French Annales school. Thompson saw the peasant, the crowds, the working class as subjects not objects of history. Previously, historians presented the peasants and working class "as one of the problems Government has had to handle". In his 1964 book, ''The Crowd in History'', George Rudé, "explored the pattern of food riots and market disturbances in terms of their geographical distribution, frequency, level of violence". In his 1971 essay, Thompson expanded on the theme of the 18th century riots in England by shifting focus to the mentalité of the 18th crowd—longing for the older disintegrating economic system—described by Thompson as a 'moral economy'—that both paternalistically protected them through crises and dearth, but also held authority over them, and an emerging system, that they sensed, threatened their livelihood and existence. Thompson investigated the mentalité of the crowd, to reveal the thinking underpinning the riots. Thompson investigated how in a particular situation rural England in the 18th century, a crowd of peasants made the decision to riot. Thompson acknowledged that "riots were triggered off by soaring prices, by malpractices among dealers, or by hunger. But these grievances operated within a popular consensus as to what were legitimate and what were illegitimate practices" in marketing, milling, and baking, for example. "This in its turn was grounded upon a consistent traditional view of social norms and obligations, of the proper economic functions of several parties within the community, which, taken together, can be said to constitute the moral economy of the poor. An outrage to these moral assumptions, quite as much as actual deprivation, was the usual occasion for direct action." According to Thompson these riots were generally peaceable acts that demonstrated a common political culture rooted in feudal rights to "set the price" of essential goods in the market. These peasants held that a traditional "fair price" was more important to the community than a "free" market price and they punished large farmers who sold their surpluses at higher prices outside the village while there were still those in need within the village. Thompson said that the riots had been "legitimized by the assumptions of an older moral economy, which taught the immorality of... profiteering upon the necessities of the people". The riots were a "last desperate effort" on the part of the protestors to re-impose the disintegrating Tudor policies of provision, the "old paternalistic moral economy" that was faced with the emergence of the "economy of the free market," the classical political economy. Thompson pointed out the "contradictory components of paternalistic control and crowd rebellion." In the essay, Thompson developed and re-invented the term 'moral economy' and the "practices with which it has been associated" by "rigidly" and definitively defining" it—based it on the years of empirical evidence that he had begun gathering in 1963—situating his research within an "interpretive framework", thereby setting a "scholarly standard". Norbert Götz, whose area of research focus is conceptual history, examined Thompson's moral economy in relation to classical political economy. He described how Thompson "treated the concept as a
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that had no prior history". In 1991, Thompson acknowledged that he had been assigned paternity of the term, but clarified that he did not coin it. He wrote that he thought that the usage of the term could be dated to at least the mid-18th century. Thompson cited Bronterre O'Brien's 1837 "directly anti-capitalist usage" of the term, which was similar to the way in which Thompson used it. Götz wrote that in pre-capitalist England, the customary order had roots in both the Edwardian and Tudor era and was based on "open" marketplace exchange. Thompson's "sufficiently attractive" concept of moral economy became "famous," with scholars from other disciplines outside history, such as political science, sociology, and anthropology, adopting it. Thompson presented a version of the article at an April 1966 conference at the State University of New York. He described moral economy as a "traditional consensus of crowd rights that were swept away by market forces." In this article, Thompson described the bread nexus that emerged in the 18th century as comparable to the cash-nexus of the industrial revolution. Thompson pit the pre-capitalist moral economy with its traditional and paternalistic values against the "values and ideas of an unfettered market"—the "modern "political economy" associated with liberalism and the ideology of the free market". According to Thompson, the "breakthrough of the new political economy of the free market was also the breakdown of the old moral economy of provision." Thompson emphasized the continuing force of pre-capitalist traditional "moral economy" even as capitalism was rapidly expanding. In the pre-capitalist society, the authorities followed a paternalist tradition of what Thompson called, a moral economy, by which the authorities provided support to the poor in times of dearth and supported fair prices as part of a moral obligation. By the late 18th century, exponents of laissez-faire who criticized the older, traditional system, were encouraged by Adam Smith's highly influential notion of a self-regulating market. The crowd, which included "tinners, colliers, weavers, hosiery workers, and labouring people", regularly rioted against grain merchants and traders who raised their prices in years of dearth in an attempt to reassert the concept of the
just price The just price is a theory of ethics in economics that attempts to set standards of fairness in transactions. With intellectual roots in ancient Greek philosophy, it was advanced by Thomas Aquinas based on an argument against usury, which in his ...
. Prior to the rise of
classical economics Classical economics, classical political economy, or Smithian economics is a school of thought in political economy that flourished, primarily in Britain, in the late 18th and early-to-mid 19th century. Its main thinkers are held to be Adam S ...
in the eighteenth century, the economies in Europe and its North American colonies were governed by a variety of (formal and informal) regulations designed to prevent "greed" from overcoming "morality". In the older system prior to the end of the 18th century, economic transactions were based on mutual obligation. Horwitz said that when national commodities markets began to develop in England in the second half of the 18th century, "the price of grain was no longer local, but regional; this resupposed for the first timethe general use of money and a wide marketability of goods." Horwitz wrote that there was a radical difference between 18th century laws in Britain and modern contract law the old theory of title of contract "outlived its usefulness". This happened around the same time as organized markets were emerging and the economic system was being transformed. Horwitz criticized late 18th century writers of contract law, such as John Joseph Powell, author of the 1790 "Essay upon the law of contracts and agreements", for denouncing the older systems for undermining the "rule of law". Horwitz said the older systems in the 18th century courts were better ways of writing contract laws, as they were more "equitable conceptions of substantive justice". To Thompson, the emerging classical political economy was epitomized by
Adam Smith Adam Smith (baptized 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment. Seen by some as "The Father of Economics"——� ...
's chapter, "Digression concerning the corn trade" in his 1776 ''
The Wealth of Nations ''An Inquiry into the Nature and Causes of the Wealth of Nations'', generally referred to by its shortened title ''The Wealth of Nations'', is the '' magnum opus'' of the Scottish economist and moral philosopher Adam Smith. First published in ...
''. He wrote that this chapter was the "most lucid expression" of the standpoint of the political economy upon market relations in subsistence foodstuffs. In this chapter Smith rejects the bounty imposed by the government on corn exports: "The unlimited, unrestrained freedom of the corn trade, as it is the only effectual preventative of the miseries of a famine, so it is the best palliative of the inconveniences of a dearth; for the inconveniences of a real scarcity cannot be remedied, they can only be palliated." The "profound" influence of his essay was felt in "British government circles" including by
William Pitt the Younger William Pitt the Younger (28 May 175923 January 1806) was a British statesman, the youngest and last prime minister of Great Britain (before the Acts of Union 1800) and then first prime minister of the United Kingdom (of Great Britain and Ir ...
,
Lord Grenville William Wyndham Grenville, 1st Baron Grenville, (25 October 175912 January 1834) was a British Pittite Tory politician who served as Prime Minister of the United Kingdom from 1806 to 1807, but was a supporter of the Whigs for the duration of ...
, and
Edmund Burke Edmund Burke (; 12 January NS.html"_;"title="New_Style.html"_;"title="/nowiki>New_Style">NS">New_Style.html"_;"title="/nowiki>New_Style">NS/nowiki>_1729_–_9_July_1797)_was_an_NS.html"_;"title="New_Style.html"_;"title="/nowiki>New_Style">N ...
. He cites examples of British administrators sent to India who resolutely resisted government interventions in the free operation of the market in spite of the "vast exigencies of Indian famine" during the Great Bengal famine of 1770.
Amartya Sen Amartya Kumar Sen (; born 3 November 1933) is an Indian economist and philosopher, who since 1972 has taught and worked in the United Kingdom and the United States. Sen has made contributions to welfare economics, social choice theory, economi ...
estimated that approximately 10 million people died in the famine, which he described as manmade. In England, poor laws and charity protected many from starvation in the 18th century. For example, in 1795, the government enacted the
Speenhamland system The Speenhamland system was a form of outdoor relief intended to mitigate rural poverty in England and Wales at the end of the 18th century and during the early 19th century. The law was an amendment to the Elizabethan Poor Law. It was created as ...
to alleviate extreme poverty. According to Thompson, there was a wide consensus of the community that those who engaged in riots were "informed by the belief that they were defending traditional rights or customs." Patrick Collinson said in his 2001 chapter in '' Puritanism and the Poor'' that clergymen in the sixteenth and seventeenth century often preached against various economic practices that were not strictly illegal, but were deemed to be "uncharitable". He said that, when the clergy condemned selling food at high prices or raising rents, it is possible that this influenced the behavior of many people who regarded themselves as Christian and might have been concerned about their reputations. The 1991 compilation of his essays, '' Customs in Common'', included both the original 1971 essay "The Moral Economy" and a chapter devoted to his reflections on the original article. In his 2012 chapter "E. P. Thompson and Moral Economies", in ''A Companion to Moral Anthropology'' Marc Edelman said that Thompson's use of 'moral' conflates 'moral' as in 'mores' or customs with 'moral' as the principled stance—especially in terms of the "common good" as defined by "customary rights and utopian aspirations". In his 1991 reflection on his 1971 "Moral Economics", Thompson wrote that "Maybe the trouble lies in the word 'moral'. Moral is a signal which brings on a rush of polemical blood to the academic head. Nothing had made my critics angrier than the notion that a food rioter might have been more 'moral' than a disciple of Dr. Adam Smith." In his 1991 reflection, Thompson responded to the widespread use of the term to which he was associated, to clarify how he had intended it to be understood. His concept of moral economy was focused on a specific geographic, political, social, and temporal context. It included the combination of "beliefs, usages, and forms associated with the marketing of food in the time of dearth" in the 18th century in England. It included, what he called, a "particular moral charge to protest", the "outrage provoked by profiteering in life-threatening emergencies", the "deep emotions" when faced with dearth, and the claims made by the crowds to the authorities at the time. Thompson responded to his critics such as Istvan Hont and
Michael Ignatieff Michael Grant Ignatieff (; born May 12, 1947) is a Canadian author, academic and former politician who served as the leader of the Liberal Party of Canada and Leader of the Official Opposition from 2008 until 2011. Known for his work as a histo ...
, who rejected Thompson's position on Adam Smith regarding government intervention in the time of a famine.


James C. Scott's moral economy

French anthropologist and sociologist Didier Fassin described how in the 1970s and 1980s the political scientist James C. Scott re-appropriated Thompson's concept of moral economics in anthropology in the United States, A considerable number of researchers investigating social mobilization in developing countries, within the framework of rural political economy, were informed and inspired by Scott's research and his 1976 publication '' The Moral Economy of the Peasant: Rebellion and Subsistence in Southeast Asia''. Scott wrote as an historian, developing his ideas on "production and forms of resistance" in an "academic environment of Marxist anthropology". He undertook his research in the colonial archives in Paris and London. He focused on colonization and decolonization in the peasant world of
Burma Myanmar, ; UK pronunciations: US pronunciations incl. . Note: Wikipedia's IPA conventions require indicating /r/ even in British English although only some British English speakers pronounce r at the end of syllables. As John C. Wells, Joh ...
and
Vietnam Vietnam or Viet Nam ( vi, Việt Nam, ), officially the Socialist Republic of Vietnam,., group="n" is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of and population of 96 million, making ...
, which included two unsuccessful uprisings in the 1930s. Scott described how during the colonial era, the economic and political transformations systematically violated what the lower classes perceived as social equity, causing such "indignation and rage that prompted them to risk everything" and making of them the "shock troops of rebellion and revolution". Scott related what he calls the moral economy of the peasant to their ideas of what was meant by economic justice and exploitation, and what constituted the tolerable and the intolerable in the name of economic justice. The peasant's moral economy was based on the value system that underlies the "expression of emotions" which in "their extreme form" results in the "emergence of revolts." Scott's moral economy, which was written at a time when
American imperialism American imperialism refers to the expansion of American political, economic, cultural, and media influence beyond the boundaries of the United States. Depending on the commentator, it may include imperialism through outright military conques ...
was being questioned, is an "important scientific" contribution to American social science. Scott acknowledges the key role played by
Karl Polanyi Karl Paul Polanyi (; hu, Polányi Károly ; 25 October 1886 – 23 April 1964),''Encyclopædia Britannica'' (Chicago: Encyclopædia Britannica Inc. 2003) vol 9. p. 554 was an Austro-Hungarian economic anthropologist and politician, best known ...
's ''The Great Transformation'' in informing his own work. Polanyi's has been criticized for reifying society and romanticizing the premarket society.Polanyi did not use the term "moral economy". This was Scott's summary. Scott, citing Polanyi, described how farmers, tenants, and laborers invoked "moral economies or market logic" when it would serve their interests against market forces that threatened them. Scott said that the struggles in specific localities and temporal spaces were unique. The kind of market regulation they struggled with was not based on a logical or abstract notion of market relations, but was informed by "historical origins and institutional structure of any particular economy." In the introduction Scott described the moral economy of the "safety first" "subsistence ethic" as a consequence of "precapitalist peasant societies" existing "too close to the margin" and faced with the "fear of food shortages" in 19th century France, Russia, Italy, and Southeast Asia in the 20th century. Scott cites and respects the work of both Barrington Moore Jr., the author of the 1966 ''Social Origins of Dictatorship and Democracy: Lord and Peasant in the Making of the Modern World'', and Eric R. Wolf author of the 1969 ''Peasant Wars of the Twentieth Century'', but differentiates his own focus and approach from theirs. Scott wrote, "To begin instead with the need for a reliable subsistence as the primordial goal of the peasant cultivator and then to examine his relationships to his neighbor, to elites, and to the state in terms of whether they aid or hinder him in meeting that need, is to recast many issues." Scott cited Richard Charles Cobb, the author of the 1970 book, ''The Police and the People: French Popular Protest 1789-1820''. Since Thompson and Scott, the term moral economy, used in social history, has been widely adopted in fields such as
economics Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics anal ...
,
sociology Sociology is a social science that focuses on society, human social behavior, patterns of social relationships, social interaction, and aspects of culture associated with everyday life. It uses various methods of empirical investigation an ...
, and
anthropology Anthropology is the scientific study of humanity, concerned with human behavior, human biology, cultures, societies, and linguistics, in both the present and past, including past human species. Social anthropology studies patterns of be ...
related to the interplay between
cultural Culture () is an umbrella term which encompasses the social behavior, institutions, and norms found in human societies, as well as the knowledge, beliefs, arts, laws, customs, capabilities, and habits of the individuals in these groups.T ...
mores Mores (, sometimes ; , plural form of singular , meaning "manner, custom, usage, or habit") are social norms that are widely observed within a particular society or culture. Mores determine what is considered morally acceptable or unacceptable ...
and economic activity. It describes the various ways in which custom and social pressure coerce economic actors in a society to conform to
tradition A tradition is a belief or behavior (folk custom) passed down within a group or society with symbolic meaning or special significance with origins in the past. A component of cultural expressions and folklore, common examples include holidays or ...
al norms even at the expense of
profit Profit may refer to: Business and law * Profit (accounting), the difference between the purchase price and the costs of bringing to market * Profit (economics), normal profit and economic profit * Profit (real property), a nonpossessory inter ...
. In a 2002 journal article on customary tenure by Bill Grigsby, an assistant professor of rural sociology, based on his 1994 field research in two villages in eastern Senegal, Grigsby cites both
Karl Polanyi Karl Paul Polanyi (; hu, Polányi Károly ; 25 October 1886 – 23 April 1964),''Encyclopædia Britannica'' (Chicago: Encyclopædia Britannica Inc. 2003) vol 9. p. 554 was an Austro-Hungarian economic anthropologist and politician, best known ...
and Scott.


Moral economy: beyond Thompson and Scott

In the chapter, "The 'Moral Economy' of the English Crowd: Myth and Reality" John Stevenson criticized Thompson and the other British scholars who, he said, followed the lead of the French Annales school-historians, shifting away from traditional historiography. Stevenson said that their historiography attempted to investigate how social and economic systems really worked by considering all levels of society and by attempting to reveal underpinning collective mentalité. In his 1975 book, Stevenson was critical of Thompson for his attempt to "decode" the actions and "reconstruct the underlying assumptions and attitudes" of "plebeian culture" in the larger the context of "social and economic change". He rejected Thompson's concept of moral economy underpinned by what Thompson called "extraordinary deep-rooted pattern of behaviour and belief" which legitimised their protests against the "propertied and those in authority". In the 1998 book ''Moral Economy'' by the
University of Colorado The University of Colorado (CU) is a system of public universities in Colorado. It consists of four institutions: University of Colorado Boulder, University of Colorado Colorado Springs, University of Colorado Denver, and the University o ...
's professor emeritus of economics John P. Powelson, he wrote: "In a moral economy, with today’s technology no one should be poor… The moral economy captures the benefits of technological invention through classic liberalism while using sidewise checks and balances to prevent environmental damage, ethnic and gender bias, and distorted distributions of wealth... In the moral economy, governments facilitate but rarely mandate." Powelson relates the concept of a "moral economy" to the balance of
economic power Economic power refers to the ability of countries, businesses or individuals to improve living standards. It increases their ability to make decisions on their own that benefit them. Scholars of international relations also refer to the economic p ...
. His moral economy is one in which there is a balance between interventionism and libertarianism; between economic factors and ethical norms in the name of
social justice Social justice is justice in terms of the distribution of wealth, opportunities, and privileges within a society. In Western and Asian cultures, the concept of social justice has often referred to the process of ensuring that individuals ...
. Powelson sees a moral economy and economic prosperity as mutually reinforcing. The term moral economy continued to used in disciplines such as history, anthropology, sociology and political science in 2015. Steven Shapin's 2009 ''The Scientific Life: A Moral History of a Late Modern Vocation'' is indebted to Thompson's re-invention of the term in 1971. Götz, along with political scientist Johanna Siméant-Germanos, who focuses on social movement studies, and Joakim Sandberg, whose specialty is
normative ethics Normative ethics is the study of ethical behaviour and is the branch of philosophical ethics that investigates the questions that arise regarding how one ought to act, in a moral sense. Normative ethics is distinct from meta-ethics in that th ...
, undertook extensive literature reviews on the theme of "Moral Economy: New Perspectives", in which they traced the "varied history" of the term moral economy from its "formative influence" in Thompson's original 1971 article to its use and meaning in 2015. In his 2020 book ''Humanitarianism in the Modern World'' Götz and his co-authors from a perspective of the moral economy, drew on philosophical, humanitarian, and medical ethics, to examine how donors and relief agencies endow aid choices, appeal for, allocate, and account for aid. In his ''Journal of Global Ethics'' 2015 article Sandberg sought to enhance understanding of the concept of moral economy through the use of more "precise and stringent" descriptions of "moral attitudes and traditions" than those currently used by empirical researchers by using the lens of
normative ethics Normative ethics is the study of ethical behaviour and is the branch of philosophical ethics that investigates the questions that arise regarding how one ought to act, in a moral sense. Normative ethics is distinct from meta-ethics in that th ...
. In his publications, Geoffrey Hodgson called for economists to balance utilitarian tendencies with moral considerations. A 2000 ''
Studies in Political Economy ''Studies in Political Economy'' is a peer-reviewed academic journal covering political economy. Although an international journal, it has an emphasis on work concerning Canada. The journal publishes three times a year electronically and appears ...
'' journal article built on this to call for economists to revive and develop the concept of moral economy in "contemporary advanced economies." The author described moral economy as one that "embodies norms and sentiments regarding the responsibilities and rights of individuals and institutions with respect to others." In '' The Efficient Society'', Canadian philosopher Joseph Heath wrote that
Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by to ...
in 2001 had achieved the proper balance between social needs and
economic freedom Economic freedom, or economic liberty, is the ability of people of a society to take economic actions. This is a term used in economic and policy debates as well as in the philosophy of economics. One approach to economic freedom comes from the l ...
, and as such comes close to being a moral economy. A University College of Cork paper describes how "concept of the moral economy when employed as an analytical tool to comprehend the essentially conservative inclination of discommoded social interests that embarked on collective action in order to sustain traditional entitlements, to maintain extant economic arrangements, or to permit access to foodstuffs at moments of acute price inflation, has considerable value" in regards to uprisings in the 18th and 19th century in Ireland. The Quaker Institute for the Future (QIF), established in 2003 in Pennsylvania, and the related Moral Economy Project, emerged from the legacy of the economist
Kenneth Boulding Kenneth Ewart Boulding (; January 18, 1910 – March 18, 1993) was an English-born American economist, educator, peace activist, and interdisciplinary philosopher.David LatzkoKenneth E. Boulding Commentsat personal.psu.edu. Accessed 24 April 200 ...
, the author of 1966 article, "The economics of the coming spaceship earth". Boulding was among the first social scientists to call attention to the need for an integrated, holistic, ecological worldview as the key focus of progressive policy and action. The 2009 publication, ''Right Relationship: Building a Whole Earth Economy'', which is part of that project and supported by the QIF, says that the well-being of the planet requires a whole earth economy, which they also call a moral economy. The authors described the development of a moral economy as one which includes a new ecologically and morally coherent "bottom line" for "resource use and for the governance of the common good. The authors address key questions regarding the purpose, function, appropriate size, fairness, and governance of a world economic system and propose new ideas to place our economy in correct relationship with the earth's ecosystem. They argue that such a moral economy is essential if we are to avoid systemic collapse as our "growth economy" outstrips the earth's limited ability to recycle our waste, and as the Earth's inventory of critical raw materials and minerals is used up, in the face of growing population and growing affluence within those populations. Since at least 2008, while the use of the term moral economy has increased in the social sciences, the clarity of the terminology has not improved. There are many different different and "confusing" definitions assigned to the term, including those that refer to economic activities through a "moral and simplistic" lens, according to an article in the ''
Anthropological Theory ''Anthropological Theory'' is a quarterly peer-reviewed academic journal that publishes papers in the field of Anthropology. The journal's editors are Julia Eckert (University of Bern), Nina Glick Schiller (University of Manchester, Max Planck In ...
'' journal. Moral economic activity is rooted in mutual obligations between people engaged in transactions over time. The author builds on the work of both Thompson and Scot, and identifies a distinction between moral values simply set within the "context of economic activity" and moral values that arise from the economic activity itself. The author calls for clearer definition of moral economy that would have "substantive benefits of a better approach to economic activity and circulation and a more explicit and thoughtful attention to moral value." In the 2011 book, ''The Moralization of the Markets'', the authors write that the "moral economy is more resonant now than ever." Thompson was described in 2020 list as one of the "most important social thinkers of our age", whose work informed critical theory, alongside
Karl Marx Karl Heinrich Marx (; 5 May 1818 – 14 March 1883) was a German philosopher, economist, historian, sociologist, political theorist, journalist, critic of political economy, and socialist revolutionary. His best-known titles are the 1848 ...
,
Walter Benjamin Walter Bendix Schönflies Benjamin (; ; 15 July 1892 – 26 September 1940) was a German Jewish philosopher, cultural critic and essayist. An eclectic thinker, combining elements of German idealism, Romanticism, Western Marxism, and Jewish ...
,
Fernand Braudel Fernand Braudel (; 24 August 1902 – 27 November 1985) was a French historian and leader of the Annales School. His scholarship focused on three main projects: ''The Mediterranean'' (1923–49, then 1949–66), ''Civilization and Capitalism'' ...
(who was highly influential in the Annales school),
Mikhail Bakhtin Mikhail Mikhailovich Bakhtin ( ; rus, Михаи́л Миха́йлович Бахти́н, , mʲɪxɐˈil mʲɪˈxajləvʲɪdʑ bɐxˈtʲin; – 7 March 1975) was a Russian philosopher, literary critic and scholar who worked on literary theor ...
,
Carlo Ginzburg Carlo Ginzburg (; born April 15, 1939) is an Italian historian and proponent of the field of microhistory. He is best known for ''Il formaggio e i vermi'' (1976, English title: ''The Cheese and the Worms''), which examined the beliefs of an Ital ...
, and
Immanuel Wallerstein Immanuel Maurice Wallerstein (; September 28, 1930 – August 31, 2019) was an American sociologist and economic historian. He is perhaps best known for his development of the general approach in sociology which led to the emergence of his wo ...
. See Carlos Antonio Aguirre Rojas in Spanish Wikipedia. In Mexico, Aguirre Rojas is known for his work on critical history and his use of the methodologies informed by the Annales school.


See also

*
Economic anthropology Economic anthropology is a field that attempts to explain human economic behavior in its widest historic, geographic and cultural scope. It is an amalgamation of economics and anthropology. It is practiced by anthropologists and has a complex re ...
*
Free rider problem In the social sciences, the free-rider problem is a type of market failure that occurs when those who benefit from resources, public goods (such as public roads or public library), or services of a communal nature do not pay for them or under- ...
*
Intentional community An intentional community is a voluntary residential community which is designed to have a high degree of social cohesion and teamwork from the start. The members of an intentional community typically hold a common social, political, religious ...
*
Just price The just price is a theory of ethics in economics that attempts to set standards of fairness in transactions. With intellectual roots in ancient Greek philosophy, it was advanced by Thomas Aquinas based on an argument against usury, which in his ...
*
Moral hazard In economics, a moral hazard is a situation where an economic actor has an incentive to increase its exposure to risk because it does not bear the full costs of that risk. For example, when a corporation is insured, it may take on higher risk ...
*
Moral panic A moral panic is a widespread feeling of fear, often an irrational one, that some evil person or thing threatens the values, interests, or well-being of a community or society. It is "the process of arousing social concern over an issue", us ...
* Non-market economics *
Perverse incentive A perverse incentive is an incentive that has an unintended and undesirable result that is contrary to the intentions of its designers. The cobra effect is the most direct kind of perverse incentive, typically because the incentive unintentional ...
* Social dilemma


Notes


References


Further reading

* * * * * {{cite book, last=Thompson, first=Edward P., title=Customs in Common, url=https://archive.org/details/customsincommon00thom, url-access=registration, year=1991, publisher=New Press, location=New York Economic ideologies Ethics Market failure
Economy An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with th ...