The dynamics of ‘Moralized Markets’: a field perspective

This article describes the distinctive features and structural properties of ‘moralized markets’, that is, markets in which producers set higher moral standards than those governing conventional market practices, and consumers buy products that respect those higher moral standards. Starting from a critical discussion of existing theoretical conceptualizations in terms of conventionalization/co-optation, quality conventions and resource partitioning, this article conceptualizes moralized markets as fields where actors are in strategic interaction. Using illustrations from several empirical studies, it suggests that all moralized markets are composed of a plurality of actors whose understanding of and commitments to moral principles vary. It reveals the main dimensions of the field, characterizes typical positions, and identifies and describes the core strategies used in struggles around field boundaries and the issues of policing and regulation of field settlements. The article concludes by offering six propositions regarding different possible outcome scenarios for the dynamics of moralized market fields, highlighting the role of the state for the stabilization of field settlements.