The History of Bankruptcy: Economic, Social and Cultural Implications in Early Modern Europe

Always a natural companion to capitalism, bankruptcy has become much more prevalent in the public consciousness since the global financial crisis. Not only have there been the spectacular failures of multinational banks and corporations, but also the rate of personal bankruptcy in North America and Europe has reached levels not seen since the 1930s. This volume, from an international set of scholars, focuses on bankruptcy in early modern Europe, when its frequency made it not only an economic problem but the great personal and social tragedy it has become. Using legal, business and personal records, the essays in this volume examine the impact of failure on business organizations and practices, capital formation and circulation, economic institutions and ethics, and human networks and relations in the so-called "transition" to modern society. All of the chapters are founded on close archival research, offering insights not only into business organization and practice but also into social and cultural aspects of economic life from the late sixteenth to the early nineteenth century.