Sociology

Bankruptcy has long been a locus of struggle over whom is morally worthy of an economic rebirth. Early twentieth century America, as a key period of expanding credit markets and the institutionalization of bankruptcy, wrestled with these tensions. In particular, the Bankruptcy Act of 1898 unexpectedly resulted in skyrocketing personal bankruptcy filing rates, which helped to solidify the perception of bankruptcy as a means for the working person?s economic rebirth.