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Debt's Dominion: A History of Bankruptcy Law in America. By David A. Skeel, Jr. Princeton, NJ: Princeton University Press, 2001. Pp. xi. 281. $35.00.
Published online by Cambridge University Press: 03 September 2002
Extract
Bankruptcy law is the bacteria of the market economy. When a company dies, bankruptcy law figures out how to break down what remains, bring the productive parts back to life, and dispose of the rest. Some consider the market economy a jungle; bankruptcy law simply helps clear the jungle floor.
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- © 2002 The Economic History Association
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