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
In pre-industrial Europe, as in developing countries today, much of the population had to struggle to survive. The livelihood of all those who lived by the work of their hands was highly insecure. This book considers the 'labouring poor' not simply as victims, but as actively pursuing a whole range of strategies for survival. These strategies included many economic activities. Building and maintaining networks of kinship and neighbourhood was equally important, as was negotiating support from institutions. Sometimes, strategies were successfully integrated within a household, while in other instances the domestic group was split and members preferred to pursue individual strategies. This illuminating book examines the European past using case studies from present-day situations in Asia and Africa.
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
The profession of peddling has until now received only slight and fragmentary scholarly attention. Usually treated in an anecdotal fashion, the pedlar has generally been thought of as a marginal figur
