Economy of Promises (eBook)

Trust, Power, and Credit in America

Bruce G. Carruthers (Autor)

eBook Download: EPUB

2022
408 Seiten
Princeton University Press (Verlag)
978-0-691-23621-6 (ISBN)

Infos

A comprehensive and illuminating account of the history of credit in America-and how it continues to divide the haves from the have-notsThe Economy of Promises is a far-reaching study of credit in nineteenth- and twentieth-century America. Synthesizing and surveying economic and social history, Bruce Carruthers examines how issues of trust stitch together the modern U.S. economy. In the case of credit, that trust involves a commitment by debtors to repay money they have borrowed from lenders. Each promise poses a fundamental question: why does the lender trust the borrower?The book tracks the dramatic shift from personal qualitative judgments to the impersonal quantitative measurements of credit scores and ratings, which make lending on a much greater scale possible. It discusses how lending is shaped by the shadow of failure, and the possibility that borrowers will break their promises and fail to repay their debts. It reveals how credit markets have been shaped by public policy, regulatory changes, and various political factors. And, crucially, it explains how credit interacts with economic inequality, contributing to vast and enduring racial and gender differences-which are only exacerbated by the widespread use of credit scores and ratings for "e;big data"e; and algorithmic decision-making.Bringing to life the complicated and abstract terrain of human interaction we call the economy, The Economy of Promises is an important study of the tangle of indebtedness that, for better or worse, shapes and defines American lives.

Produkt-Details

• Erscheint lt. Verlag: 11.10.2022
• Sprache: englisch
• Themenwelt: Sozialwissenschaften ► Pädagogik
• Themenwelt: Sozialwissenschaften ► Soziologie
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre
• Schlagworte: asset • Bailout • Bank • Bank charge • Beta (finance) • Bond (finance) • Bond Market • Bond Yield • Business Model • Capital adequacy Ratio • Capital Employed • capital expenditure • Capital intensity • Capitalism • Capital Market • Capital requirement • Cash advance • Cash Basis • Cash crop • Cash Flow • Collateralized Loan Obligation • commerce clause • commercial credit • Commodity • commodity market • Competition (economics) • Consumer Debt • Consumer economy • Consumerism • Consumption (Economics) • Creative Accounting • Credit (finance) • Credit Insurance • Creditor • Credit Rating • credit risk • Credit spread (options) • Crony Capitalism • Currency • Current Price • Customer • debt • Debt Consolidation • Debt Financing • debt limit • Debtor • Default (finance) • Developed market • Discount window • Diversification (finance) • Economic bubble • Economic Development • economic forecasting • Economic indicator • economic interventionism • Economic Life • economic nationalism • Economic Policy • Economics • Economic sector • economy • Economy of the United States • Employment • Equity Market • Exchange Rate • Factoring (finance) • Fee Income • Finance • Financial asset • Financial Capital • Financial Inclusion • Financial innovation • Financial institution • Financial Instrument • Financial Intermediary • financialization • Financial Performance • Financial Services • Financial statement • Financial Technology • financier • Floating interest rate • funded debt • Government Debt • Gross Domestic Product • Gross Earnings • Gross (economics) • Guaranteed Loan • High-yield debt • income • Inflation • Insider Lending • institutional investor • Interest Rate • Investment • Investment Fund • Investment Strategy • Investor • Leverage (finance) • Loan guarantee • macroprudential regulation • Margin (finance) • Market (economics) • Market Economy • market liquidity • Market Maker • Market Price • Market rate • Market Value • Mark-to-market accounting • Mass production • Measures of national income and output • Monetarism • monetary policy • money market • Money market account • mortgage loan • National Bureau of Economic Research • Net capital rule • Net income • payday loan • Payment • Policy • Price index • Pricing • Prime rate • Profit (economics) • Public Finance • Purchase Price • purchasing power • rate of profit • Rate of return • Real interest rate • Relative value (economics) • repayment • Revenue bond • savings account • Securitization • Security (finance) • Shareholder • Structured Finance • Subsidy • Supply (economics) • supply-side economics • Tax bracket • Tax Reform • Trade Credit • Underlying Debt • Value (economics) • Venture Capital • Working Capital • World Economy
• ISBN-10: 0-691-23621-6 / 0691236216
• ISBN-13: 978-0-691-23621-6 / 9780691236216