Blackwell Reference Online

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Moral economy can be defined as a common notion of the just distribution of resources and social exchange. The concept has been developed and is used in the context of political and social analysis to understand, for example, various systems of social exchange or instances of rebellion. It is claimed that social communities tend to invoke a moral repertoire for all kinds of social exchanges and transfers that leads them to distinguish between legitimate and illegitimate social practices. The transition from traditional to market economies is emphasized by many authors, in particular, because this transition challenged traditional communal norms and values and can lead to social and political unrest. In more recent accounts, moral economy contends that economic activities are insufficiently understood in narrow economic terms. Rather, they need a broader understanding of how economic and normative motives are blended and how markets are permeated by social norms and values. The centerpiece of the moral economy argument claims that human action is embedded within the wider social environment and institutions and is therefore deeply colored by non-economic considerations. E. P. Thompson's (1971) study on the eighteen-century food riots first popularized the term moral economy. He observes how the emergence of the market order seriously challenges traditional normative standards, and ... log in or subscribe to read full text