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BANKRUPTCY, THE CREDIT CARD AND AMERICAN FREEDOM |
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| Authors: | Robert Ellmann |
| Institution: | Economics and Philosophy at Anglo-American University and at the Institute of Finance and Administration in Prague |
| 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. |
| Keywords: | Bankruptcy economic freedom 1978 bankruptcy reform voluntary bankruptcy involuntary bankruptcy |