Work, employment and society through the lens of moral economy

Abstract

In this article a moral economy approach is proposed that is informed by Karl Polanyi and E. P. Thompson, who capture the ubiquitous tension between a stable, moral and human society and the economic practices of self-regulating markets, and by Andrew Sayer's consideration of lay morality. Moral economy is an analytical framework that gives voice to critical concerns for the workings of an increasingly disconnected capitalism, its inherent tendencies to treat labour as a ‘fictitious commodity' and the impact this has on the well-being of individuals and wider society. Hence, at the heart of the approach suggested here is a normative understanding of mutual reciprocality and embedded sociality that raises questions about how to support the human capacity to flourish.