The Vested Interests and the Evolving Moral Economy of the Common People. Issue 2 (3rd April 2017)

• Record Type: Journal Article
• Authors: Brette, Olivier
• Is Part Of: Journal of economic issues. Volume 51:Issue 2(2017)
• Page Start: 503
• Page End: 510
• Publication Date: 2017-04-03
• Subjects: history -- institutionalism -- moral economy -- Thompson -- Veblen; B41 -- B52 -- N00; Economics -- Periodicals; Economics; Économie politique -- Périodiques; Economie; ECONOMICS; ECONOMIC POLICY; Periodicals; 330.05
• DOI: 10.1080/00213624.2017.1321445
• Languages: English
• ISSNs: 0021-3624

Abstract

Abstract: The British historian Edward P. Thompson ([1971, 1991]1993 ) developed the concept of "moral economy" to analyze the food riot in eighteenthcentury England. I aim to elaborate on the concept of moral economy of the common people by combining Thompson's insights with those developed by Veblenian institutional economists. I highlight the commonalities between Thompsonian history and Veblenian economics in terms of both questions addressed and methodological principles endorsed. Finally, I emphasize the complementarities between these two bodies of work, and suggest some ways to exploit them in order to better understand the evolution of the moral economy of the common people over time.