A new variational method, the principle of least radix economy, is formulated. The mathematical and physical relevance of the radix economy, also called digit capacity, is established, showing how physical laws can be derived from this concept in a unified way. The principle reinterprets and generalizes the principle of least action yielding two classes of physical solutions: least action paths and quantum wavefunctions. A new physical foundation of the Hilbert space of quantum mechanics is then accomplished and it (...) is used to derive the Schrödinger and Dirac equations and the breaking of the commutativity of spacetime geometry. The formulation provides an explanation of how determinism and random statistical behavior coexist in spacetime and a framework is developed that allows dynamical processes to be formulated in terms of chains of digits. These methods lead to a new foundation for Lorentz transformations and special relativity. The Parker-Rhodes combinatorial hierarchy is encompassed within our approach and this leads to an estimate of the interaction strength of the electromagnetic and gravitational forces that agrees with the experimental values to an error of less than one thousandth. Finally, it is shown how the principle of least-radix economy naturally gives rise to Boltzmann’s principle of classical statistical thermodynamics. A new expression for a general nonequilibrium entropy is proposed satisfying the Second Law of Thermodynamics. (shrink)

There are three main claims in the paper: first, there is sufficient evidence for affirming that Ricardo adhered to Smith's productivity theory; second, Ricardo's original demonstration of the comparative- advantage proposition is indeed compatible and complementary with respect to the latter; and third, Ricardo agreed with Smith's multifactorial explanation of the pattern of trade, which includes increasing returns and economies of scale. These results suggest that the level of compatibility between the international trade theories of Smith and Ricardo is significantly (...) higher than it is currently reflected in the economic literature. They also add a new perspective to the ongoing process of reassessment of Smith's contributions to international trade theory, further strengthening the view that he was indeed an outstanding international trade theorist. (shrink)

Collaborative economy emerged as a response to the need of people to exchange, produce and share in a more humane and cooperative manner. However, the growth of collaborative economy organizations and the terminological confusion have led to debates about their possible effects, both positive and negative. In this study, we have created a guideline that can be used to evaluate the contribution of organizations considered within collaborative economy to common good. We used the conceptualization of common good, (...) which, from its Aristotelian-Thomist philosophy, was developed by the personalist-humanist perspective of management. Our analysis leads us to conclude that the evaluation of the contribution of any organization to the common good must take into account how the participants develop their virtues, the creation of the community and its impact on the common good of society. At the end of the article, we present the aspects that society must take into account regarding collaborative economy. Firstly, society, in general, must approach collaborative economy as a tool that must complement others in the search for solutions to economic and social problems and, secondly, the governance of the platform-network is essential to foster organizational models that favour the common good. (shrink)

The importance of the collective management of immaterial resources is a key variable in the valorisation of products in a post-industrial economy. The purpose of this paper is to analyse how, in post-industrial economies, it is possible to devise alternative forms of mediation between producers and consumers, such as organic farmers' markets, to curb the appropriation of rent by transnational and/or local business elites from the value created by immaterial resources. More specifically, we analyse those aspects of the collective (...) management of ethical values that, in the case of organic farmers' markets, can be a strategic source of competitive advantage for local producers. In this paper, the Ecomercado de Granada is studied as an example of mediation between production and consumption in a post-industrial economy. (shrink)

This article discusses L.-J. Lebret’s methodological and epistemological approach for the elaboration of the concepts of ‘human economy’ and ‘harmonized human development’. Both concepts were very...

‘Moral economy’ has become a popular concept in empirical research in disciplines such as history, anthropology, sociology and political science. This research utilizes normative concepts and has obvious normative implications and relevance. However, there has been little to no dialogue between this research and philosophers working on normative ethics. The present article seeks to remedy this situation by highlighting fertile points of dialogue between descriptive and normative ethicists. The proposition is that empirical researchers can become more precise and (...) stringent in their descriptions of moral attitudes and traditions with a greater understanding of normative ethics; and, at the same time, philosophers have much to gain from a closer examination of the realities of moral thinking and social action. The concurrent examination of both strands of research may be especially rewarding. (shrink)

There is increased interest in deviant behavior in the workplace. However, research is lacking on the moral economy of such behavior. Moral economy is particularly important in contexts where syncretic forces impinge on deviant behavior. Consequently, we use moral economy reasoning to examine the relationship between ethnic obligation and deviant behavior in the African context. In Study 1, data (_N_ = 27, 148) show an inverted U-shape effect of meta-agency and deviant behavior. In Study (...) 2, difference-in-difference (DID) analysis of data (_N_ = 25,387 in 2005 and _N _= 51,587 in 2013) shows significant DID effect of meta-agency. Primary data from Study 3 (_N_ = 229) shows a U-shaped effect of agency and deviant behavior. In Study 4 (_N_ = 333), a replication shows support for the U-shape effect in Study 3. The four studies thus show complex patterns that reflect U-shape and inverted U-shape relationships between ethnic obligation and deviant behavior as indicated by bribery, corruption, and unethicality. Robustness checks support the curvilinear relationships suggesting that the effects are not due to chance. We discuss implications for research and practice. (shrink)

Real living wages (RLWs) are an important ethical and moral policy to ensure that employees earn enough to live on. In providing ‘a fair day's pay for a fair day's work’, they set an ethical foundation for liveability. This article explores the ethics and moral economy of the RLW for lower-paid staff in the overlooked economy context of UK professional football, illustrated by a qualitative case study of Luton Town Football Club (LTFC). The article provides theoretical (...) insights grounded in moral economy concepts about how a RLW contributes to a broader common good means of enabling fuller human participation in decent working and living conditions. Applying these concepts using a multi-disciplinary moral economy interpretation offers deeper theoretical contributions than economistic interpretations restricted to mainly technocratic economic distributive issues. LTFC are evidently ethically embedded in a moral economy as a local community club paying a RLW, and part of the overlooked economy. The research also contributes to contemporary debates on ‘Common Good’ HRM regarding the role of living wages in addressing grand common good challenges like inequality and quality of working lives. (shrink)

The significance of giving as a contemporary socio-economic practice has been obscured both by mainstream economics and by the influence of the anthropological tradition. Andrew Sayer’s concept of moral economy offers a more fruitful framework for an economic sociology of contemporary giving, and one that appears to be largely consistent with social quality approaches. This article analyzes giving from the perspective of moral economy, questioning the view that giving is a form of exchange, and opening up (...) the prospect of seeing it as the outcome of a more complex constellation of causal factors. It uses examples from the digital economy, in particular the phenomenon of open-source software, which nicely illustrates both the progressive potential of digital gifts and the ways in which they can be absorbed into the commercial economy. (shrink)

Digital technologies have made access to and profit from scientific publications hotly contested issues. Debates over open access (OA), however, rarely extend from questions of distribution to questions of how OA is transforming the politics of academic knowledge production. This article argues that the movement towards OA rests on a relatively stable moral episteme that positions different actors involved in the economy of OA (authors, publishers, the general public), and most importantly, knowledge itself. The analysis disentangles the ontological (...) and moral side of these claims, showing how OA changes the meaning of knowledge from a good in the economic, to good in the moral sense. This means OA can be theorized as the moral economy of digital knowledge production. Ultimately, using Boltanski and Thévenot’s work on justification, the article reflects on how this moral economy frames the political subjectivity of actors and institutions involved in academic knowledge production. (shrink)

This article challenges E.P. Thompson's definition of ‘moral economy’ as a traditional consensus of crowd rights that were swept away by market forces. Instead, it suggests that the concept has the potential of improving the understanding of modern civil society. Moral economy was a term invented in the eighteenth century to describe many things. Thompson's approach reflects only a minor part of this conceptual history. His understanding of moral economy is conditioned by a dichotomous (...) view of history and by the acceptance of a model according to which modern economy is not subject to moral concerns. It is on principle problematic to confine a term conjoining two concepts as general as ‘moral’ and ‘economy’ to a specific historical and social setting. Recent approaches that frame moral economy as an emotively defined order of morals are also misleading since they do not address economic issues in the way they are commonly understood. The most promising current approaches appear to be those that consider t.. (shrink)

Within thirty years of first appearing, the networked digital economy has spread its tentacles into the lives of half the population of the world, and transformed the balance of power in the commercial economy. Social theory has been slow to recognize the significance and scale of these developments, and this special issue is a contribution to redressing the balance. It is organized around the concept of moral economies: the values and norms that underpin and shape our participation (...) in larger economic structures. The digital economy today is the site of a range of competing economic models, and this is reflected in clashes between a corresponding range of moral economies. The contributors to this special issue map these tensions in examples of both gift and commodity models of economy, analyse the implications for global risk, and re-evaluate classic analytic schemes to represent these tensions. Because the economy is built on moral economies, the process of economic change is already inherently a process of debate and contestation between different moral economies, with the consequence that academic work on the ethics of the economy can influence these processes of change. (shrink)

In the following pages we discuss three historical cases of moral economies in science: Drosophila genetics, late twentieth century American astronomy, and collaborations between American drug companies and medical scientists in the interwar years. An examination of the most striking differences and similarities between these examples, and the conflicts internal to them, reveals constitutive features of moral economies, and the ways in which they are formed, negotiated, and altered. We critically evaluate these three examples through the filters of (...) rational choice, utility, and American pragmatism, using the latter to support the conclusion that there is no single vision of moral economies in science and no single theory—moral, political, social—that will explain them. These filters may not be the only means through which to evaluate the moral economies examined, but aspects of each appear prominent in all three cases. In addition, explanations for decisions are often given in the language of these theories, both at the macro (policy) level and at the local level of the moral economies we discuss. In light of such factors, the use of these frameworks seems justified. We begin with an attempt to define the nature of moral economies, then move to a consideration of scientific communities as moral communities operating within material and other constraints which we relate to wider questions of political economy and societal accountabilities. (shrink)

At times of crisis, existing institutional arrangements of societies are thrown into question. Crises that occur in multiple societies simultaneously present rare opportunities for comparative empirical analysis. Social theory can reveal the framing conditions of the responses to crises and the sources of variations between them. This paper compares the immediate responses of the Australian, UK and US governments to the global COVID-19 pandemic, particularly with regard to financing lockdowns, and points out significant differences between the three approaches. Drawing on (...) Polanyi’s method of institutional analysis, we compare the responses of these same national groups to an earlier crisis, the Japanese prisoner of war camps during the Second World War, to show similar patterns of integration recurring eight decades apart. This analysis shows that aspects of moral economies that are not usually apparent can become pronounced during crises, and points to the importance of enduring social imaginaries. (shrink)

We may well be witnessing a decisive event in the history of knowledge as diversity is becoming one of the premier values of late modern societies. We seek to preserve and foster biodiversity, neurodiversity, racial diversity, ethnic diversity, gender diversity, linguistic diversity, cultural diversity, and perspectival diversity. Perspectival diversity has become the passage point through which other forms of diversity must pass to become epistemically consequential. This article examines how two of its varieties, viewpoint diversity and educational diversity, have come (...) to transform the moral economy of science. Both aim at multiplying perspectives on a given subject, but their political subtexts differ markedly. The valorization of educational diversity followed a US Supreme Court decision in 1978 that enabled universities to advance social justice, if they justified race-conscious admissions in terms of the pedagogic benefits of a more diverse student body for all. By contrast, the proponents of viewpoint diversity aim at the reform of scientific knowledge production and distribution rather than the reallocation of status and power among different social groups. We examine the political epistemology of viewpoint diversity by analyzing a controversy between social psychologists who, amid the American culture wars of the 2010s, debated how to rein in their political biases in a scientific field supposedly lacking political diversity. Out of this scientific controversy grew Heterodox Academy, an activist organization promoting viewpoint diversity in higher education. By relating and comparing viewpoint and educational diversity, we clarify what is at stake epistemically in the US-centric moral economy of diversity. (shrink)

Should the idea of economic man-the amoral and self-interested Homo economicus-determine how we expect people to respond to monetary rewards, punishments, and other incentives? Samuel Bowles answers with a resounding "no." Policies that follow from this paradigm, he shows, may "crowd out" ethical and generous motives and thus backfire. But incentives per se are not really the culprit. Bowles shows that crowding out occurs when the message conveyed by fines and rewards is that self-interest is expected, that the employer thinks (...) the workforce is lazy, or that the citizen cannot otherwise be trusted to contribute to the public good. Using historical and recent case studies as well as behavioral experiments, Bowles shows how well-designed incentives can crowd in the civic motives on which good governance depends. (shrink)

The ethical authority carried in the conventions of fairness and human well-being has been widely adopted under the idea of “moral economy,” forming an eclectic and interdisciplinary debate. Significant, though external to this debate, is a corpus of medieval thought which exhibits a fundamental interest in legitimate market protocols, and the political rights and obligations of agents in relation to the common good of the community. This article asserts the imperative status of a customary basis for understanding not (...) just the analytic version of moral economy but the legacy contained in what might be termed the “the moral economy of Aquinas.”. (shrink)

This article focuses on one dimension of the interplay of national decline and urban corruption in Rousseau's thought -- what I call Rousseau's analysis of the moral economy of the modern city. It is perhaps fitting that E.P.Thompson has used the concept of 'moral economy' to describe a popular consensus embedded in patterns of deeply rooted assumptions, belief and conduct among the urban poor in eighteenth-century England. Food riots, rooted in a belief in the customary practice (...) of sale of food at fair prices even when production was low, were a response to prices designed to achieve the greatest profit the market allowed. (shrink)

Andrew Sayer and Dave Elder-Vass are both advocates of ‘moral economy’. To this end, Elder-Vass offers a theory of appropriative practices that enables us to evaluate the enormous variety of forms...

The Moral Economies of American Authorship argues that the moral character of authors became a kind of literary property within mid-nineteenth-century America's expanding print marketplace, shaping the construction, promotion, and reception of texts as well as of literary reputations.

The moral economy of American medicine has been transformed by contentious innovations in organization, administration, regulation, and finance. In many settings old fee-for-service incentives and disincentives have been replaced by those of ``managed care,'' while in other settings they have been diluted or distorted. In the everyday care of patients, old and new may alternate or interact. These innovations may also be having secondary effects on participation in life-sciences research and the development and employment of new technologies, discouraging (...) collective support for preliminary investigation and delaying adoption of improved goods and services until cost-reducing potential has already been realized. This motivational complexity, particularly in its moral dimensions, is hard to address using standard assumptions and methods. I argue for different assumptions, based on the clinical behavior of individual patients rather than the market behavior of aggregated consumers, and I describe a different method, based on an old idea in political economy. I then present a new way to explain the core obligations of clinicians, researchers, and planners and to interpret the policy problems they must now share. (shrink)

This article traces the moral economy of provincial elites who contributed to economic societies that were active in eighteenth- and early nineteenth-century Northern Europe. Such societies aimed at improving economic conditions in their respective cities, regions, or countries by advocating progressive methods of agriculture, manufacturing, and commerce. The commitment of members of these societies was not explicitly motivated by economic gains, but by a more complex system of beliefs fueled by the love of their country and the promotion (...) of the common good. The unselfish exploration of new means of production and commercial activity was at the heart of forming a moral economy of trust that guided cooperation within the societies. This moral economy was not subordinate to market rationality, but served as a foundation upon which trust between members was based. Especially in times of crises, as illustrated by the case of Carl Christian Böcker, secretary of the Finnish Economic Society, members could fall.. (shrink)

The paper offers a wide-angle view of ethics and welfare through the lens of ‘moral economy’. It examines economic activities in relation to a view of welfare as well-being, and to ethics in terms of economic justice. Rather than draw upon abstract ideal theories such as Rawlsian or Capabilities approaches, it calls for an evaluation of actually existing sources of harm and benefit in neoliberal capitalism. It argues that we need to look behind economic outcomes in terms of (...) how much money different people have, examine their economic relations to others, and evaluate the justifications of these relations and their associated rights and practices. It distinguishes three sources of income – earned income, transfers, and unearned income, and argues that the last of these has no functional or ethical justification but has major implications for welfare. It then comments on the policy implications of the argument, including brief comments on asset-based welfare and universal basic income policies, and concludes. (shrink)

This article focuses on the ‘gift of aid’ and its impact upon the local moral economy in a Sri Lankan village affected by the tsunami disaster in 2004. The importance of giving, receiving, and reciprocating for the shaping and consolidation of social relations has long been recognized. The act of giving reflects one of the most basic principles of morality and has constituted a classical anthropological field of inquiry. The impact that humanitarian aid had on the local (...) class='Hi'>moral economy of a community struck by disaster and the various ways the ‘gift of aid’ was understood and valued by donors, brokers, and recipients is explored. Also examined is how processes of change were set in motion, benefiting some people and relationships but marginalizing others. Local lifeworlds were shattered in multiple ways and became caught in tensions between competing moral discourses concerning modernity, the collective, and the global. Promoting material recovery disaster aid also generated disorder and fragmentation of lo.. (shrink)

Neoclassical and Austrian economic theory lend support to a conception of laissez‐faire capitalism as an ideal scheme of cooperation in which individual decisions are harmonized, and income is distributed according to one's productive contribution. Keynes's critique of this conception has an often‐overlooked moral dimension, according to which the coordination problems that trouble real‐world market economies produce an arbitrary and inequitable distribution of wealth and income.

The global development of human embryonic stem cell science and its therapeutic applications are dependent on the nature of its engagement at national and international levels with key cultural values and beliefs concerning the moral status of the early human embryo. This article argues that the political need to reconcile the promise of new health technologies with the cultural costs of scientific advance, dependent in this case on the use of the human embryo, has been met by the evolution (...) of bioethics as a political community, transnational network, and bureaucratic device. Bioethics has become the political means for the creation of a global moral economy where the trading and exchange of values is normalized and legitimated. As a result of such trading, value compromises are produced capable of legitimizing the regulatory policies necessary for maintaining public trust in the new science. (shrink)

The Idea of a Moral Economy is the first modern edition and English translation of three questions disputed at the University of Paris in 1330 by the theologian Gerard of Siena. The questions represent the most influential late medieval formulation of the natural law argument against usury and the illicit acquisition of property. Together they offer a particularly clear example of scholastic ideas about the nature and purpose of economic activity and the medieval concept of a moral (...) economy. In his introduction, editor Lawrin Armstrong discusses Gerard's arguments and considers their significance both within the context of scholastic philosophy and law and as a critique of contemporary mainstream economics. His analysis demonstrates how Gerard's work is not only a valuable source for understanding economic thought in pre-modern Europe, but also a fertile resource for scholars of law, economics, and philosophy in medieval Europe and beyond. (shrink)

ABSTRACT In this article we call for a paradigm change in relation to the way we tend to look at how markets and morals are entwined in the writings of Jonathan Swift (1667–1745). We argue that it would be wrong to apply contemporary notions of economics retrospectively and somewhat a-historically to a thinker of an axial time in which economics as a separate sphere did not exist, and morals and markets and the way they relate to each other were about (...) to be reconceptualised. We argue that it is thus no accident that Scottish Enlightenment thinkers such as David Hume and Adam Smith took to Swift. They admired more than the expressive or rhetorical skills in Swift; in the first instance, they read Swift as somebody who managed to express moral sentiments (and even outrage) in an appealing, that is mostly satirical way, thereby not only criticizing the cruel conditions in Ireland at the time but also identifying the gap between rhetoric and reality and thus taking issue with the hypocrisy and double standards of the time. We will use two famous examples of Swift's work to illustrate our case, A Modest Proposal (1729) and Directions to Servants (1745). (shrink)

This article explores some aspects of the renewed interest in moral economy and draws attention to the pitfalls if the concept is used too loosely. Edward P. Thompson and James C. Scott's model is examined to see how their elaboration of moral economy can be used to link food, popular indignation, reinvention of tradition, and relationships to the elite. Moral economy was an alternative to considering crowds as irrational, eruptive, or driven only by hunger. (...) By studying how the notion of moral economy has spread and taken on different meanings, it becomes clear that the term has been unevenly stretched in the social sciences. However, rather than dismissing it as overworked, it can be more precisely delimited and used to orient empirical and analytical observations of, in particular, humanitarian aid. (shrink)

How do modern Muslims adapt their traditions to engage with today's world? Charles Tripp's erudite and incisive book considers one of the most significant challenges faced by Muslims over the last sixty years: the challenge of capitalism. By reference to the works of noted Muslim scholars, the author shows how, faced by this challenge, these intellectuals devised a range of strategies which have enabled Muslims to remain true to their faith, whilst engaging effectively with a world not of their own (...) making. The work is framed around the development of their ideas on Islamic socialism, economics and the rationale for Islamic banking. While some Muslims have resorted to confrontation or insularity to cope with the challenges of modernity, most have aspired to innovation and ingenuity in the search for compromise and interaction with global capitalism in the twenty-first century. (shrink)

This article asks how state formation processes informed the normative frameworks of late-Medieval and early-Modern Latin European and Muslim Middle Eastern regimes. The question at hand is not why pre-Modern regimes discriminated against religious minorities (as well as other groups) during the pre-Modern period, but why Western European states consistently engaged in mass expulsions of their non-Christian subjects from the late thirteenth century onward and the neighboring states of the Middle East did not. Rather than addressing these peculiar policies as (...) a function of religion, culture, or law the article adopts a comparative, contextual method. With the aid of Charles Tilly’s theoretical perspectives it isolates critical variables in pre-Modern Middle Eastern state formation. These variables are then used to shed light on the circumstances and relationships that led to Latin Europe’s mass expulsions of Jews and Muslims between 1290 and 1614. (shrink)