Comments on: The History of Pre-Medieval Bankruptcy http://cominganarchy.com/2008/05/11/the-history-of-pre-medieval-bankruptcy/ Speak Victorian, Think Pagan Sat, 11 Oct 2008 23:04:35 +0000 http://wordpress.org/?v=2.3.2 By: Roy Berman http://cominganarchy.com/2008/05/11/the-history-of-pre-medieval-bankruptcy/#comment-383811 Roy Berman Fri, 16 May 2008 10:12:36 +0000 http://cominganarchy.com/2008/05/11/the-history-of-pre-medieval-bankruptcy/#comment-383811 I checked the Chinese Wikipedia page on "bankruptcy" and its nothing but a one sentence dictionary definition and a list of people and companies that have declared bankruptcy. What a letdown! I checked the Chinese Wikipedia page on “bankruptcy” and its nothing but a one sentence dictionary definition and a list of people and companies that have declared bankruptcy. What a letdown!

]]> By: Lexington Green http://cominganarchy.com/2008/05/11/the-history-of-pre-medieval-bankruptcy/#comment-383715 Lexington Green Mon, 12 May 2008 17:18:55 +0000 http://cominganarchy.com/2008/05/11/the-history-of-pre-medieval-bankruptcy/#comment-383715 This is an under-appreciated element of the success of the developed world generally, and the world governed by Anglo-American law more particularly. Business requires risk-taking. Coming up with a way to peacefully wind-up failed businesses is necessary. You no longer need to risk life and limb to take on creditors for your business. Also, having an orderly, lawful process that maximizes the value of the remaining assets in a business dissolution, is a huge advantage for our economy. So-called third world economies still personalize bankruptcies, and when a business starts to smell fishy, creditors still drive up in a truck and ransack the place, to be on the safe side. I had a bankruptcy professor who described how this was done in Indonesia. Needless to say, those methods are not wealth maximizing. Now, repeat after me, words you never thought you'd say: "Thank God for the Bankruptcy Code!" This is an under-appreciated element of the success of the developed world generally, and the world governed by Anglo-American law more particularly. Business requires risk-taking. Coming up with a way to peacefully wind-up failed businesses is necessary. You no longer need to risk life and limb to take on creditors for your business. Also, having an orderly, lawful process that maximizes the value of the remaining assets in a business dissolution, is a huge advantage for our economy. So-called third world economies still personalize bankruptcies, and when a business starts to smell fishy, creditors still drive up in a truck and ransack the place, to be on the safe side. I had a bankruptcy professor who described how this was done in Indonesia. Needless to say, those methods are not wealth maximizing.

Now, repeat after me, words you never thought you’d say: “Thank God for the Bankruptcy Code!”

]]> By: A.R.Yngve http://cominganarchy.com/2008/05/11/the-history-of-pre-medieval-bankruptcy/#comment-383709 A.R.Yngve Mon, 12 May 2008 08:29:07 +0000 http://cominganarchy.com/2008/05/11/the-history-of-pre-medieval-bankruptcy/#comment-383709 Perhaps a mistranslation of "corpus" gave Shakespeare the idea of Shylock's demand for "a pound of flesh" in "The Merchant of Venice"? ;-) Perhaps a mistranslation of “corpus” gave Shakespeare the idea of Shylock’s demand for “a pound of flesh” in “The Merchant of Venice”?
;-)

]]> By: Curzon http://cominganarchy.com/2008/05/11/the-history-of-pre-medieval-bankruptcy/#comment-383700 Curzon Mon, 12 May 2008 04:18:59 +0000 http://cominganarchy.com/2008/05/11/the-history-of-pre-medieval-bankruptcy/#comment-383700 Thanks for that bristlecone! Thanks for that bristlecone!

]]> By: bristlecone http://cominganarchy.com/2008/05/11/the-history-of-pre-medieval-bankruptcy/#comment-383694 bristlecone Sun, 11 May 2008 19:00:03 +0000 http://cominganarchy.com/2008/05/11/the-history-of-pre-medieval-bankruptcy/#comment-383694 I'm assuming the term used for cutting the debtor's body was "corpus," if so, it probably refers to dividing the debtor's assets, not his physical body. Mistranslation. I’m assuming the term used for cutting the debtor’s body was “corpus,” if so, it probably refers to dividing the debtor’s assets, not his physical body. Mistranslation.

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