Bankruptcy

A decade after the Global Financial Crisis and Great Recession, developed economies continue to struggle under excessive household debt. While exacerbating inequality and political unrest, this debt - when combined with wage stagnation and a shrinking welfare state - has played a key role in maintaining economic growth and allowing households faced with rising costs of living to make ends meet. In Bankruptcy: The Case for Relief in an Economy of Debt, Joseph Spooner examines this economic model and finds it increasingly unsustainable. In a call to action to reduce debt burden, he turns to bankruptcy law, which is uniquely situated as a mechanism of social insurance against the risks of a debt-dependent economy. This book should be read by anyone interested in understanding the problem of consumer debt and how best to address it.

• Proposes a unified theory of consumer bankruptcy law as a social insurance mechanism in a debt dependent economy
• Situates bankruptcy law in the context of contemporary policy discussions regarding the role of household debt in the economy, and the policy problems posed by excessive household debt
• Combines extensive theoretical and policy discussion with detailed analysis and critique of specific elements of bankruptcy law, as well as the law's overall structure
• Adopts a genuinely inter-disciplinary approach, drawing on discussions of household debt in economics, sociology, law and political science