Historically, American legislators have upheld national goals of economic growth and social mobility by passing bankruptcy laws more generous to debtors than those in most European countries. America has been a nation of debtors from the outset, as its settlers borrowed to pay for their passage from Europe, to buy and clear land, to build and operate mills, to purchase slaves, and to gamble and drink. Inevitably, some investments went sour, and some individuals failed to prosper, leaving them... więcej
Salem Press Encyclopedia, 2021. 4p.