Could Inequality Spur Return to Moral Economy?

The concept of moral economy was first used by 18th century thinkers trying to make sense of rising capitalist values. In feudal society, a "fair price" was preferred over a free price, especially for necessities.

The reciprocal rights and responsibilities of feudalism let the lord set the fair price. The British historian E. P. Thompson showed how farmers clung to this belief. Large farmers who sold their product at a higher price elsewhere while some were in need in the village where ostracized.