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Bankrupt in America: A History of Debtors, Their Creditors, and the Law in the Twentieth Century
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.
 
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Bankrupt in America: A History of Debtors, Their Creditors, and the Law in the Twentieth Century
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.
 
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Bankrupt in America: A History of Debtors, Their Creditors, and the Law in the Twentieth Century

Bankrupt in America: A History of Debtors, Their Creditors, and the Law in the Twentieth Century

Bankrupt in America: A History of Debtors, Their Creditors, and the Law in the Twentieth Century
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Bankrupt in America: A History of Debtors, Their Creditors, and the Law in the Twentieth Century

Bankrupt in America: A History of Debtors, Their Creditors, and the Law in the Twentieth Century

Overview

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.
 

Product Details

ISBN-13: 9780226679563
Publisher: University of Chicago Press
Publication date: 02/05/2020
Series: Markets and Governments in Economic History
Edition description: First Edition
Pages: 224
Product dimensions: 6.00(w) x 9.00(h) x 0.90(d)

About the Author

Mary Eschelbach Hansen is professor of economics at American University.


Bradley A. Hansen is professor of economics at University of Mary Washington. He is the author of Institutions, Entrepreneurs, and American Economic History: How the Farmers' Loan and Trust Company Shaped the Laws of Business from 1822 to 1929.

Table of Contents

List of Figures
List of Tables
Preface and Acknowledgments
Chapter 1: Introduction
Appendix to Chapter 1
Chapter 2: The Intended and Unintended Consequences of the 1898 Bankruptcy Act
Appendix to Chapter 2
Chapter 3: An Emphasis on Workout rather than Liquidation
Appendix to Chapter 3
Chapter 4: Personal Bankruptcy after World War II
Appendix to Chapter 4
Chapter 5: The Renegotiation of the Relationship between Consumers and Their Creditors
Appendix to Chapter 5
Chapter 6: The Triumph of the Consumer Creditor
Appendix to Chapter 6
Chapter 7: Conclusion and Epilogue
 
Notes
List of Sources
Index
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