Bankrupt in America : a history of debtors, their creditors, and the law in the twentieth century / Mary Eschelbach Hansen and Bradley A. Hansen.

Format:

Book

Author/Creator:

Hansen, Mary E., author.

Hansen, Bradley A., 1963- author.

Series:

Markets and governments in economic history.

Markets and Governments in Economic History

Language:

English

Subjects (All):

Bankruptcy--United States--History--20th century.

Bankruptcy.

Physical Description:

1 online resource (237 pages) : illustrations, maps.

Place of Publication:

Chicago : University of Chicago Press, [2020]

Summary:

In 2005, more than two million Americans—six out of every 1,000 people—filed for bankruptcy. Though personal bankruptcy rates have since stabilized, bankruptcy remains an important tool for the relief of financially distressed households. In Bankrupt in America, Mary and Brad Hansen offer a vital perspective on the history of bankruptcy in America, beginning with the first lasting federal bankruptcy law enacted in 1898. Interweaving careful legal history and rigorous economic analysis, Bankrupt in America is the first work to trace how bankruptcy was transformed from an intermittently used constitutional provision, to an indispensable tool for business, to a central element of the social safety net for ordinary Americans. To do this, the authors track federal bankruptcy law, as well as related state and federal laws, examining the interaction between changes in the laws and changes in how people in each state used the bankruptcy law. In this thorough investigation, Hansen and Hansen reach novel conclusions about the causes and consequences of bankruptcy, adding nuance to the discussion of the relationship between bankruptcy rates and economic performance.

Contents:

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.

Notes:

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 24. Apr 2020)

ISBN:

9780226679730

022667973X

OCLC:

1140147046