Bankruptcy Laws and Entrepreneurship
The New Yorker's regular financial columnist, James Surowiecki, writes this week about the US bankruptcy laws - suggesting that the changes to US consumer bankruptcy law made in 2005 'ended up making the economy less dynamic and less flexible.' Surowiecki mentions a recent paper
by John Armour and Douglas Cumming that 'found a close correlation between the nature of a country’s bankruptcy laws and its rate of self-employment.'





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