{"product_id":"lending-to-the-borrower-from-hell-9780691173771","title":"Lending to the Borrower from Hell","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eWhy do lenders time and again loan money to sovereign borrowers who promptly go bankrupt? When can this type of lending work? As the United States and many European nations struggle with mountains of debt, historical precedents can offer valuable insights. Lending to the Borrower from Hell looks at one famous case--the debts and defaults of Philip\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTrade Review\u003c\/b\u003e\u003cbr\u003e\"A thoroughly enjoyable economic history book with great relevance for the present debate on sovereign borrowing.\"--Diane Coyle, Enlightened Economist \"Lending to the Borrower from Hell is a wonderful example of what becomes possible when one takes economic theory on a trip to the archive and actually reads the small print of each contract. It provides for the first time an economically sound explanation for Spain's ability to borrow in the sixteenth century that actually fits the facts. That is an outstanding achievement.\"--Regina Grafe, EH.Net \"[T]his innovative monograph substantially enriches our understanding of Castile's government borrowing, as well as the nature of sovereign default in early modern Europe. And it will most certainly conquer a central place in the literature and future debates on public debt and finance from a historical perspective.\"--Benoit Marechaux, CritCom \"Intensely researched.\"--Elvira Vilches, Renaissance Quarterly\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003eACKNOWLEDGEMENTS ix  PROLOGUE 1  CHAPTER 1 Lending to the Sound of Cannon 9  CHAPTER 2 Philip's Empire 45  CHAPTER 3 Taxes, Debts, and Institutions 74  CHAPTER 4 The Sustainable Debts of Philip II 105  CHAPTER 5 Lending to the Borrower from Hell 132  CHAPTER 6 Serial Defaults, Serial Profits 173  CHAPTER 7 Risk Sharing with the Monarch 211  CHAPTER 8 Tax, Empire, and the Logic of Spanish Decline 243  EPILOGUE Financial Folly and Spain's Black Legend 271  REFERENCES 281  INDEX 297","brand":"Princeton University Press","offers":[{"title":"Default Title","offer_id":49403841151319,"sku":"9780691173771","price":999.99,"currency_code":"GBP","in_stock":false}],"url":"https:\/\/bookcurl.com\/products\/lending-to-the-borrower-from-hell-9780691173771","provider":"Book Curl","version":"1.0","type":"link"}