BANKRUPTCY, THE CREDIT CARD AND AMERICAN FREEDOM

Robert Ellmann

Economic Affairs, 2009, vol. 29, issue 1, 40-44

Abstract: Over the past 30 years, the USA has enhanced economic freedom in a paradigmatic way. This was accomplished through its unique 1978 bankruptcy law legislation, which itself had been necessitated by the previous over‐use of the credit card. Curiously, this expansion of economic freedom is reminiscent of some nineteenth‐century calls for social justice.

Date: 2009
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