TY  - GEN
T1  - The Economy of Promises : Trust, Power, and Credit in America
A1  - Carruthers, Bruce G.
LA  - English
PP  - Princeton
PB  - Princeton University Press
YR  - 2022
UL  - https://ebooks.jgu.edu.in/Record/jstor_dda_on1337071946
AB  - 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 "big data" 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
CN  - HG3729.U52 C37 2022
SN  - 0691236216
SN  - 9780691236216
SN  - 9780691235387
KW  - Credit : United States : History.
KW  - Trust : United States.
KW  - Crédit : États-Unis : Histoire.
KW  - Confiance : États-Unis.
KW  - SOCIAL SCIENCE : Sociology : General.
KW  - Credit
KW  - Trust
KW  - United States
KW  - Asset.
KW  - Bank charge.
KW  - Bank.
KW  - Bond (finance)
KW  - Business model.
KW  - Capital adequacy ratio.
KW  - Capital employed.
KW  - Capital expenditure.
KW  - Capital intensity.
KW  - Cash crop.
KW  - Cash flow.
KW  - Commerce Clause.
KW  - Commercial Credit.
KW  - Commodity market.
KW  - Commodity.
KW  - Competition (economics)
KW  - Consumerism.
KW  - Credit (finance)
KW  - Credit Insurance.
KW  - Credit risk.
KW  - Creditor.
KW  - Crony capitalism.
KW  - Currency.
KW  - Current Price.
KW  - Debt limit.
KW  - Debt.
KW  - Debtor.
KW  - Diversification (finance)
KW  - Economic Life.
KW  - Economic development.
KW  - Economic forecasting.
KW  - Economic indicator.
KW  - Economic interventionism.
KW  - Economic policy.
KW  - Economic sector.
KW  - Economics.
KW  - Economy of the United States.
KW  - Economy.
KW  - Employment.
KW  - Exchange rate.
KW  - Fee Income.
KW  - Financial capital.
KW  - Financial inclusion.
KW  - Financial institution.
KW  - Financial instrument.
KW  - Financial intermediary.
KW  - Financial services.
KW  - Financial statement.
KW  - Financial technology.
KW  - Financier.
KW  - Floating interest rate.
KW  - Gross (economics)
KW  - Gross Earnings.
KW  - Gross domestic product.
KW  - Guaranteed Loan.
KW  - Income.
KW  - Inflation.
KW  - Insider Lending.
KW  - Interest rate.
KW  - Investment fund.
KW  - Investment strategy.
KW  - Investor.
KW  - Margin (finance)
KW  - Mark-to-market accounting.
KW  - Market liquidity.
KW  - Market price.
KW  - Market rate.
KW  - Market value.
KW  - Mass production.
KW  - Measures of national income and output.
KW  - Monetarism.
KW  - Money market account.
KW  - Money market.
KW  - Mortgage loan.
KW  - Net capital rule.
KW  - Net income.
KW  - Payment.
KW  - Policy.
KW  - Price index.
KW  - Pricing.
KW  - Prime rate.
KW  - Public finance.
KW  - Purchase Price.
KW  - Purchasing power.
KW  - Rate of profit.
KW  - Rate of return.
KW  - Real interest rate.
KW  - Relative value (economics)
KW  - Repayment.
KW  - Revenue bond.
KW  - Securitization.
KW  - Shareholder.
KW  - Subsidy.
KW  - Supply-side economics.
KW  - Tax bracket.
KW  - Tax reform.
KW  - Trade credit.
KW  - Value (economics)
KW  - Working capital.
KW  - World economy.
KW  - History
ER  -