Bankrupt in America : a history of debtors, their creditors, and the law in the Twentieth Century / Mary Eschelbach Hansen and Bradley A. Hansen.
By: Hansen, Mary E [author.].
Contributor(s): Hansen, Bradley A [author.].
Series: Publisher: Chicago : University of Chicago Press, ©2020Description: 222 p: illustrations, charts ; 24 cm.Content type: text Media type: unmediated Carrier type: volumeISBN: 9780226679563.Subject(s): Bankruptcy -- United States -- History -- 20th centuryGenre/Form: Print books.| Current location | Call number | Status | Date due | Barcode | Item holds |
|---|---|---|---|---|---|
| On Shelf | HG3766 .H35 2020 (Browse shelf) | Available | AU00000000017114 |
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| HG3756.U54 G45 2009 Collateral damaged : the marketing of consumer debt to America / | HG3756.U54 H95 2012 Borrow : the America way of debt/ | HG3756.U54 T78 2014 Consumer lending in France and America : credit and welfare / | HG3766 .H35 2020 Bankrupt in America : a history of debtors, their creditors, and the law in the Twentieth Century / | HG3851 .G335 2022 Currency trading / | HG3881 .B2512 2018 Can finance save the world? : regaining power over money to serve the common good / | HG3881 .E347 2008 Globalizing capital : a history of the international monetary system / |
Includes bibliographical references and index.
Introduction -- The intended and unintended consequences of the 1898 Bankruptcy Act -- An emphasis on workout rather than liquidation -- Personal bankruptcy after World War II -- The renegotiation of the relationship between consumers and their creditors -- The triumph of the consumer creditor -- Conclusion and Epilogue.
"In Bankrupt in America, Mary and Brad Hansen show that examination of how Americans have used bankruptcy law and the history of the law itself offers important perspective on the history of bankruptcy in America. Using new statistical and documentary evidence, they illustrate the cycles of interaction between bankruptcy law's use and its own evolution. The authors first offer a broad overview of the laws at various levels governing the collection of debt and position their research in the literature on bankruptcy. They establish the need for a framework that integrates various lines of thought, and introduce of the methods of their approach, which incorporates new institutional economics and cliometrics, that is, the incorporation of econometric data analysis. They then illustrate the general path to bankruptcy by discussing the series of decisions that creditors and debtors make at every stage and how various formal and informal institutions influence these decisions. The core of the book will comprise a generally chronological narrative from 1898, when the first major federal bankruptcy law was enacted to an end point of 2005. Hansen and Hansen reach novel conclusions about causes and consequences of bankruptcy and raise nuances in the relationship between bankruptcy rates and economic growth. For instance, while higher bankruptcy rates are usually considered a negative, the authors show that higher bankruptcy may actually signal economic growth if it is due to an expansion of credit markets. Further, the authors contribute to our understanding of what drives differences in bankruptcy rates among states by illustrating the influence of the broader legal framework. Ultimately, this work find that long-run growth in personal bankruptcy is the result of growth in credit and that the study of legal governance provides useful viewpoints from which to draw out patterns in bankruptcy"--