Student Essay Winner Imagines a World without Creditors

科恩鼓励学生们探索法律领域的历史,法律领域的书籍,让他们熟悉美国法律图书馆协会(AALL)和法律图书馆业。盖尔很荣幸与AALL合作,提供现金津贴和AALL年会旅行津贴,为今年比赛的获胜者提供便利。金宝搏彩票

今年的冠军来自纽约州立大学石布鲁克分校。看看下面他获奖论文的摘要,我们在费城见!


Lay Justices and Local Finance in Early New York

By Sung Yup Kip

Living in the twenty-first century, it is hard to imagine economic life without the existence of credit. How many of us hasn’t had to borrow money at one point in life (unless you belong to that fabled one percent), whether in the form of taking a student loan, taking out a mortgage, or simply letting credit card debt pile up? Credit, perhaps just as much as money itself, is the lifeblood of the modern economy, allowing us to get by when our meager earnings fall short of our daily needs. People of course lent and borrowed money long before the advent of market economies and capitalism, but in pre-modern economies credit was often extended on a personal basis, whereas modern credit markets revolve around formal credit instruments supported by the firm hand of law. Thanks to this legal-financial system, borrowing no longer has to be limited to one’s immediate acquaintances, and creditors feel more secure about lending money to strangers, thus making more credit available in the market.

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