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The Cultural History of Money and Credit

A Global Perspective

Format: Paperback / softback
Publisher: Lexington Books, Lanham, MD, United States
Published: 26th Sep 2017
Dimensions: w 151mm h 232mm d 15mm
Weight: 304g
ISBN-10: 1498505945
ISBN-13: 9781498505949
Barcode No: 9781498505949
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Synopsis
In the wake of the financial crisis in 2008, historians have turned with renewed urgency to understanding the economic dimension of historical change. In this collection, nine scholars present original research into the historical development of money and credit during the nineteenth and twentieth centuries and explore the social and cultural significance of financial phenomena from a global perspective. Together with an introduction by the editors, chapters emphasize themes of creditworthiness and access to credit, the role of the state in the loan market, modernization, colonialism, and global connections between markets. The first section of the volume, "Creditworthiness and Credit Risks," examines microfinancial markets in South India and Sri Lanka, Brazil, and the United States, in which access to credit depended largely on reputation, while larger investors showed a strong interest in policing economic behavior and encouraging thrift among market participants. The second section, "The Loan Market and the State," concerns attempts by national governments to regulate the lending activities of merchants and banks for social ends, from the liberal regime of nineteenth-century Switzerland to the far more statist policies of post-revolutionary Mexico, and U.S. legislation that strove to eliminate discrimination in lending. The third section, "Money, Commercial Exchange, and Global Connections," focuses on colonial and semicolonial societies in the Philippines, China, and Zimbabwe, where currency reform and the development of organized financial markets engendered conflict over competing models of economic development, often pitting the colony against the metropole. This volume offers a cultural history by considering money and credit as social relations, and explores how such relations were constructed and articulated by contemporaries. Chapters employ a variety of methodologies, including analyses of popular literature and the viewpoints of experts and professionals, investigations of policy measures and emerging social practices, and interpretations of quantitative data.

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The essays that explore creditworthiness and credit risks are the most successfully theorized, in part because this section draws on the existing work on honor and reputation, particularly of Laurence Fontaine. . . This volume is rich in historical insights and provides some common themes. * Pacific Historical Review * Credit, also known as debt, shapes peoples' lives and social relations in countless ways, and debt crises have enormous unexplored historical significance. Chia Yin Hsu, Thomas M. Luckett, and Erika Vause open a path for historians into this terrain and demonstrate how the world of global economics connects to the worlds of daily life. -- Mark Metzler, University of Texas at Austin By embedding credit and finance in their political, social, and cultural contexts, this book allows us to make our understanding of the economy much more complex. Together, the diversity of case studies-ranging from nineteenth-century reactions to bankruptcy in Switzerland to the financial crisis in twentieth-century colonial Zimbabwe-and an analysis that pays attention to the social and political stakes and to the nature of the agency actors can mobilized in very different historical contexts, offer ways to understand better the making of economic decisions which, finally, is what truly matters. -- Laurence Fontaine, Centre Maurice Halbwachs, CNRS-ENS-EHESS Paris