The Moral Economy
Open-knowledge reference entry

The Moral Economy: Poverty, Credit, And Trust In Early Modern Europe is a 2014 economic history book by Laurence Fontaine.
Summary
There were according to Fontaine two conflicting economic cultures in the period: the gift-based "aristocratic culture" in rural areas and the contract-based bourgeois economy (or "merchant culture") in urban areas. According to reviewer Steven M. Beaudoin, the first six chapters address the range of practices and experiences associated with debt and credit. Fontaine in the first chapter explains "the mechanisms that made debt, and thus credit, a ubiquitous experience, common to aristocrats, merchants, and peasants". Chapters two and three center on rural debt, and chapters four through six center on urban economies.
The remaining chapters feature greater focus on the values associated with each economic culture. Chapter nine, according to Philipp Robinson Rössner, "closely studies bargaining in markets as a form resembling the modern bazaar, a somewhat logical behaviour in markets whose products were marked by a lack of standardisation, uncertainty about quality and the value of currencies."
According to Jon Stobart, the secondary material largely discusses the situation in France, but " there is also an impressive array of reading on Italy, Spain, Portugal, England, and, to a lesser extent, Germany."
Reception
Anne E. C. McCants lauded The Moral Economy as a "magisterial overview of the social context of money-lending and poverty before the industrial age". Jon Stobart called it "a book of considerable scope and ambition". He claimed that Fontaine's analysis is "rich with the granular detail of individual stories". Stobart also praised Fontaine for "drawing on a wide range of secondary material.
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