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The Moral Economy

Author

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  • Fontaine,Laurence

Abstract

The Moral Economy examines the nexus of poverty, credit, and trust in early modern Europe. It starts with an examination of poverty, the need for credit, and the lending practices of different social groups. It then reconstructs the battles between the Churches and the State around the ban on usury, and analyzes the institutions created to eradicate usury and the informal petty financial economy that developed as a result. Laurence Fontaine unpacks the values that structured these lending practices, namely, the two competing cultures of credit that coexisted, fought, and sometimes merged: the vibrant aristocratic culture and the capitalistic merchant culture. More broadly, Fontaine shows how economic trust between individuals was constructed in the early modern world. By creating a dialogue between past and present, and contrasting their definitions of poverty, the role of the market, and the mechanisms of microcredit, Fontaine draws attention to the necessity of recognizing the different values that coexist in diverse political economies.

Suggested Citation

  • Fontaine,Laurence, 2014. "The Moral Economy," Cambridge Books, Cambridge University Press, number 9781107603707.
  • Handle: RePEc:cup:cbooks:9781107603707
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    Cited by:

    1. Olivier Godechot, 2019. "Conclusion: What finance manufactures," Post-Print hal-03393812, HAL.
    2. Olivier Godechot, 2019. "Conclusion: What finance manufactures," SciencePo Working papers Main hal-03393812, HAL.
    3. Stefano Adamo & David Alexander & Roberta Fasiello, 2018. "Usury and credit practices in the Middle Ages," CONTABILIT? E CULTURA AZIENDALE, FrancoAngeli Editore, vol. 2018(1), pages 37-69.
    4. repec:hal:spmain:info:hdl:2441/4ff88coju39nk8b11b5ghfc1ff is not listed on IDEAS
    5. Y. Svetiev & E. Dermineur & U. Kolanisi, 2022. "Financialization and Sustainable Credit: Lessons from Non-Intermediated Transactions?," Journal of Consumer Policy, Springer, vol. 45(4), pages 673-698, December.

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