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MORAL ECONOMY

Books on Moral Economy

Moral Economy is the central characteristic of economic activity in a tribal society. Rather than economic exchanges being motivated by self-interest, greed or profit, exchanges are driven by moral obligations created by kinship relations, gift giving, and rituals.

In a moral economy, a hunter or food gatherer may by obliged to give much of the food to a network of relations, thus accounting for the distribution of food within the community.

It was the final collapse of moral economy, economic exchange as moral obligation that Karl Marx bemoaned when he described the ‘cash nexus’ that has become the central medium and motivator of exchange in a capitalist society.

The moral economy embodies norms regarding the responsibilities and rights of individuals and institutions with respect to others and regarding the nature and qualities of goods, services and environment. The story of capitalism and modernity is often told as one of the replacement of moral economy by a political economy, in which the fate of actors comes to depend on the outcomes of anonymous contending market forces, the positioning of people as consumers turns moral judgements concerning the social good into matters of private preference, and their fortunes become heavily dependent on luck, as even market advocates such as Hayek, acknowledge.

The Moral Economy of the Mexican Miner - Adrian Bantjes, University of Wyoming.
Paper seeks to explain the isolated, conservative political role played by mineworkers during the radical presidency of Lazaro Cardenas (1934 1940), using the Sonoran miners as a case study. The moral economy of the Mexican miner was not accepted by the State, which imposed cooperativism, mass unionism, and de-skilling on this "labor aristocratic" sector of the workforce. The relative freedom and independence of the Mexican miner would soon be a thing of the past. 

The Moral Economy of the Peasant - Rebellion and Subsistence in Southeast Asia - James C. Scott - yalepress.yale.edu - Scott draws from the history of agrarian society in lower Burma and Vietnam to show how the transformations of the colonial era systematically violated the peasants’ “moral economy” and created a situation of potential rebellion and revolution.

The Moral Economy - John P. Powelson is Professor of Economics Emeritus, University of Colorado - press.umich.edu. The Moral Economy proposes a desirable world that is historically possible, if certain trends of the past millennium are continued into the next, and if world power becomes more diffuse. As we enter the twenty-first century, it looks to the horizon to suggest what a distant future might bring. Shows how a moral economy, a balance between interventionism and libertarianism, and economic prosperity are mutually reinforcing.

Abstract of The Moral Economy 
Adam Smith's classic liberal economy works well only when economic and political power is well distributed. The distribution of power in the twenty-first century depends on which of three paths we take: interventionism, libertarianism, or the middle path proposed in this book. 
This path is called "the moral economy." It seeks balance of power among social groupings, in which socially desirable behavior is imposed sidewise-by group acting upon group-rather than downward, through government regulation. Environmental and other social goals are sought by nongovernment agencies as much removed from politics as possible, while social assistance is administered by private agencies financed in part by cash or voucher grants supplied by government, or by a negative income tax. 
The final chapter describes the moral economy, using the solutions to the problems cited in Part One and the institutions proposed in Part Two. It also outlines the path by which the moral economy might be approached.