Cover: The Engine of Enterprise: Credit in America, from Harvard University PressCover: The Engine of Enterprise in HARDCOVER

The Engine of Enterprise

Credit in America

Product Details

HARDCOVER

$48.00 • £41.95 • €43.95

ISBN 9780674051140

Publication Date: 02/15/2016

Text

312 pages

6-1/8 x 9-1/4 inches

10 halftones, 5 tables

World

Add to Cart

Media Requests:

Related Subjects

American households, businesses, and governments have always used intensive amounts of credit. The Engine of Enterprise traces the story of credit from colonial times to the present, highlighting its productive role in building national prosperity. Rowena Olegario probes enduring questions that have divided Americans: Who should have access to credit? How should creditors assess borrowers’ creditworthiness? How can people accommodate to, rather than just eliminate, the risks of a credit-dependent economy?

In the 1790s Alexander Hamilton saw credit as “the invigorating principle” that would spur the growth of America’s young economy. His great rival, Thomas Jefferson, deemed it a grave risk, inviting burdens of debt that would amount to national self-enslavement. Even today, credit lies at the heart of longstanding debates about opportunity, democracy, individual responsibility, and government’s reach.

Olegario goes beyond these timeless debates to explain how the institutions and legal frameworks of borrowing and lending evolved and how attitudes about credit both reflected and drove those changes. Properly managed, credit promised to be a powerful tool. Mismanaged, it augured disaster. The Engine of Enterprise demonstrates how this tension led to the creation of bankruptcy laws, credit-reporting agencies, and insurance regimes to harness the power of credit while minimizing its destabilizing effects.

Recent News

Black lives matter. Black voices matter. A statement from HUP »

From Our Blog

Composite photograph showing (top) entrance to the Prudential Center in Boston and (bottom) an internal construction partition/wall printed with the words 'Opening Day 2023' and other decorative text

A New Chapter for Harvard Book Store

Starting in the summer of 2023, for the first time in almost thirty years, Harvard Book Store will have two locations: the flagship store in Harvard Square, and a large new store in the Prudential Center in Boston. For University Press Week we wanted to show some bookseller love, so we reached out to Rachel Cass, General Manager of the Harvard Book Store, to see what’s planned for their exciting new location