Ethics in the Mayan Marketplace

Benjamin Blevins, Guadalupe Ramirez and Jonathan Wight

Chapter Chapter 5 in Accepting the Invisible Hand, 2010, pp 87-110 from Palgrave Macmillan

Abstract: Abstract The use of social relations to enforce moral codes governing exchange is a practice that likely goes back to the early evolutionary history of Homo sapiens.1 Cooperation among individuals offers distinct advantages for biological fitness compared to self-sufficiency. A key stumbling block is the question of trust and the potential for cheaters to gain at the expense of cooperators. Charles Darwin, relying on Adam Smith, argued that mechanisms supporting cooperation can be found in moral norms arising from instincts; these instincts produce powerful emotions, such as those that generate sympathy with others.2 Moral codes generally work to ensure cooperative behaviors in close relatives and reciprocators in exchange. They also generally provide for safety nets to share risks and ensure survival of the group during unexpected downturns. As human societies change and adapt to new challenges, specific moral norms evolve to fit those circumstances. Consequently, a diversity of moral norms and practices has existed throughout human history depending on time and circumstance.3

Keywords: Social Capital; Invisible Hand; Moral Code; Moral Sentiment; Monopsony Power (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pfschp:978-0-230-11431-9_5

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DOI: 10.1057/9780230114319_5

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