The Moral Economy

The moral economy refers to the way economic activities and exchanges are shaped by shared social values, ethical considerations, and community norms, rather than solely by profit or efficiency. It emphasizes that economic decisions—such as pricing, labor practices, and resource distribution—are influenced by principles of fairness, justice, and social responsibility. In essence, the moral economy recognizes that economic life is intertwined with cultural and moral ideals, guiding behaviors to promote societal well-being and uphold communal standards alongside economic interests.