{"product_id":"insider-lending-banks-personal-connections-and-economic-development-in-industrial-new-england-paperback-9780521566247","title":"Insider Lending; Banks, Personal Connections, and Economic Development in Industrial New England (Paperback) 9780521566247","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eInsider Lending\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eBanks, Personal Connections, and Economic Development in Industrial New England\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cem\u003eThis book, first published in 1994, explores the important role that insider lending played in the economic development of early nineteenth-century New England.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eNaomi R. Lamoreaux (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780521566247, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePaperback, published 28 August 1996\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e194 pages, 14 b\/w illus.\u003cbr\u003e22.9 x 15.2 x 1.1 cm, 0.29 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e'This is an important book which explores the evolution of bank lending strategies during the industrialisation of New England.' Mary B. Rose, Business History\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eThe term insider lending conveys an aura of abuse and corruption, of unethical, if not illegal, behaviour. In early nineteenth-century New England, however, insider lending was an integral aspect of the banking system. Not only was the practice an accepted fact of economic life, but, as Naomi R. Lamoreaux argues, it enabled banks (at least in this particular historical context) to play an important role in financing economic development. As the banking system evolved over the course of the century, however, lending practices became more impersonal and professional. Ironically, the information problems banks faced when they began to conduct more and more of their business at arm's length forced them to concentrate on providing short-term loans to commercial borrowers and to give up financing economic development. This book was first published in 1994.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eAcknowledgements\u003cbr\u003e Introduction\u003cbr\u003e 1. Vehicles for accumulating capital\u003cbr\u003e 2. Insider lending and Jacksonian hostility towards banks\u003cbr\u003e 3. Engines of economic development\u003cbr\u003e 4. The decline of insider lending and the problem of determining creditworthiness\u003cbr\u003e 5. Professionalization and specialization\u003cbr\u003e 6. The merger movement in banking\u003cbr\u003e Conclusion.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Economic history [\u003ca title=\"See our other books on Economic history\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Economic%20history%20%5BKCZ%5D%22\"\u003eKCZ\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46065996300568,"sku":"9780521566247","price":29.59,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9780521566247i.jpg?v=1691408654","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/insider-lending-banks-personal-connections-and-economic-development-in-industrial-new-england-paperback-9780521566247","provider":"Freshly Printed Books","version":"1.0","type":"link"}