How an antisemitic legend gave voice to widespread fears surrounding the expansion of private credit in Western capitalism
The Promise and Peril of Credittakes an incisive look at pivotal episodes in ...the West's centuries-long struggle to define the place of private finance in the social and political order. It does so through the lens of a persistent legend about Jews and money that reflected the anxieties surrounding the rise of impersonal credit markets.
By the close of the Middle Ages, new and sophisticated credit instruments made it easier for European merchants to move funds across the globe. Bills of exchange were by far the most arcane of these financial innovations. Intangible and written in a cryptic language, they fueled world trade but also lured naive investors into risky businesses. Francesca Trivellato recounts how the invention of these abstruse credit contracts was falsely attributed to Jews, and how this story gave voice to deep-seated fears about the unseen perils of the new paper economy. She locates the legend's earliest version in a seventeenth-century handbook on maritime law and traces its legacy all the way to the work of the founders of modern social theory-from Marx to Weber and Sombart.
Deftly weaving together economic, legal, social, cultural, and intellectual history, Trivellato vividly describes how Christian writers drew on the story to define and redefine what constituted the proper boundaries of credit in a modern world increasingly dominated by finance.
Murphy discusses Mike Bender's article. He questions the statistical validity of a comparison between a non-peer reviewed annual publication from 2009 to 2018 and three peer reviewed (two quarterly, ...one twice yearly) academic journals. In his article, Bender does not acknowledge the significance of the centenary issue of The Mariner's Mirror 97, no. 1 (2011), in which he, published 22 articles in 398 pages from leading scholars, most of which were surveys of the state of the huge range of disciplines contained in Mariner's Mirror since its inception. Overall, however, Bender is of course correct at the dire state of maritime history in British universities. It is lamentable that so few PhD students go on to full time jobs in our universities and the tiny amount who do are usually on precarious short-term contracts.
This award-winning book is a comprehensive and timely examination of remedies for breach of contract. It analyses and challenges fundamental aspects of English law contractual remedies, drawing upon ...comparative study of French law and with particular focus on recent developments in both jurisdictions. It also makes suggestions as to how contractual remedies in England might be strengthened.
Ugovor o faktoringu je pravni posao kupoprodaje postojeće nedospjele ili buduće kratkoročne novčane tražbine nastale iz osnova ugovora o prodaji robe ili pružanju usluga u zemlji i inostranstvu, koja ...se prenosi na faktora ugovorom i koji preuzima potraživanje od prodavca da bi to naplatio u svoje ime i za svoj račun. Ugovor o faktoringu mora biti zaključen u pisanoj formi između klijenta (prodavca) i faktora. O zaključenom ugovoru dužnik mora biti obaviješten na pouzdan način. Buduće tražbine mogu biti predmet faktoringa samo ako su u trenutku sklapanja ugovora bile dovoljno odredive. Osnovne funkcije faktoringa su funkcija finansiranja, usluge i osiguranja naplate.
Yawning gaps in bargaining powers between transacting parties have always been a source of concern in commercial relations and the legal governance of such relations. In modern times, the likely ...implications of gaps in bargaining powers are not only palpable as it concerns the affairs of transacting parties with weaker bargaining powers, but also on the welfare of society, at large. That is particularly so in this milieu of pervasive oligopolistic market structures, organised commercial networks, digitisation, and big data. The imperative to guard against the use of contractually agreed remedial clauses to consolidate market power and as tools for wealth extraction is the concern of this article. To this end, this article makes a case for a recalibration of the rule against penalties in contract law.
The provisions of the French Civil Code governing the law of obligations remained largely unchanged since 1804 and have served as the model for civil codes across the world. In 2016, the French ...Government effected major reforms of the provisions on the law of contract, the general regime of obligations and proof of obligations. This work explores in detail the most interesting new provisions on French contract law in a series of essays by French lawyers and comparative lawyers working on French law and other civil law systems. It will make these fundamental reforms accessible to an English-speaking audience. Volume 25: Studies of the Oxford Institute of European and Comparative Law
ABSTRACT
Research suggests that employees work harder under penalty contracts than under economically equivalent bonus contracts. We build on this literature by examining how the motivational ...advantage of penalty contracts depends on a common aspect of real-world contracts: payoff ambiguity. With payoff ambiguity, employees provide effort without knowing how much pay they will receive for a given level of performance. According to our theory, this ambiguity opens the door for employee optimism, which has contrasting effects under each contract frame. Results from an experiment support this theory, with an increase in ambiguity leading to less employee effort with penalty contracts (as employees optimistically expect small penalties) and more effort with bonus contracts (as employees optimistically expect large bonuses). We also find that these effects are stronger for more dispositionally optimistic employees. Overall, our results suggest that bonus contracts may be more motivating and penalty contracts less motivating than previously thought.
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