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 structure and relations, gift giving, and rituals. Moral economy was a term invented in the eighteenth century. E.P. Thompson's defined ‘moral economy’ as a traditional consensus of crowd rights that were swept away by market forces. In a moral economy, like in a hunter gatherer society, 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 capitalism and 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.
The moral economy of the Mexican miner was not accepted by the State, which imposed cooperativism, mass unionism, and deskilling 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
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 world power becomes more diffuse. Shows how a moral economy, a balance between interventionism and libertarianism, and economic prosperity are mutually reinforcing.
Abstract of The Moral
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.
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.
The Moral Economy of the Peasant: Rebellion and Subsistence in Southeast Asia. Professor James C. Scott Review: By Faruk Ekmekci.
Islam and the Moral Economy: The Challenge of Capitalism by Charles Tripp.
Darker than Blue: On the Moral Economies of Black Atlantic Culture (The W. E. B. Du Bois Lectures) by Paul Gilroy.