The Moral Economy

The transition from rural economy to the free market, and the resistance

The phrase “the moral economy” was first used by E. P. Thompson, within the essay of the same name. He explained it as was part of a long change in economic and community relations. As Britain industrialised at speed, there was a change from a paternalistic rural economy, to a free market guided by the ideology of Adam Smith. The moral economy related to part of the resistance from the labouring poor during these economic and social upheavals. This was community based, with a crowd of people […]