Do shopkeepers have their own moral economy? Profiteering, unfair competition and the black market in Greece, 1916–1945

ABSTRACT Moral economy has been conceived by E.P. Thompson as being inextricably linked to popular reactions to the emergence of the free market and the government policies promoting it. How useful can the concept be in the study of social groups that form an organic part of the capitalist market and benefit from its expansion – while simultaneously being part of the popular classes? In focusing on the small shopkeeper, can we identify elements of moral economy in their views that are contrary to the logic of the market and the conventional wisdom of liberal political economy? This article offers a thorough examination of the case of Greek shopkeepers between 1916 and 1945. It presents their views regarding issues of profiteering and fair profit; unfair competition and licensed professions; and black markets and the relationship of shopkeepers to the community. The main conclusion is that a broader definition of moral economy than Thompson’s is needed in order to incorporate shopkeepers’ perceptions, freed from the obligatory reference to customary practice and tradition and the element of direct action of the crowd. Therefore, a novel distinction is proposed between a narrow and a broad definition of the moral economy.