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Louis Hyman | |
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| Spouse | Katherine Howe |
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| Discipline | Economic history |
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Louis Roland Hyman (born 1977) is an American writer and economic historian. He is the Maurice and Hinda Neufeld Founders Professor in Industrial and Labor Relations at Cornell University's School of Industrial &Labor Relations.
After growing up in Baltimore,Maryland,where he attended McDonogh School,Hyman attended Columbia University in New York City. He graduated with a BA in history and mathematics.
Hyman was a 1999–2000 Fulbright Fellow at the University of Toronto,during which time he studied Canadian history. [1]
In 2007,Hyman earned a PhD in American history from Harvard University.
Hyman revised his doctoral dissertation into a book during a fellowship at the American Academy of Arts and Sciences. The result,titled Debtor Nation:The History of America in Red Ink,was published by Princeton University Press in 2011. [2] Choice named it one of the top 25 "Outstanding Academic Titles" for 2011. [3]
Hyman has served as a consultant for global management consulting firm McKinsey &Company. [4] His writings have appeared in such publications as Enterprise &Society , [5] Reviews in American History , [6] CNBC, [7] Wilson Quarterly , [8] and the New York Times . [4] [9]
His second book,Borrow:The American Way of Debt,which explained how American culture shaped finance and vice versa,was published in 2012. [10]
After spending time as a lecturer at Harvard, [11] Hyman now works at Cornell University's School of Industrial &Labor Relations. [12] He continues to conduct research on the history of American capitalism. He also teaches an EdX massive open online course (MOOC) called American Capitalism:A History.
Hyman is married to the novelist Katherine Howe. [13] His mother,Patty Kuzbida,is a retired laboratory technician and outsider artist whose works have been collected in the American Visionary Art Museum. [14] [15]
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions,bankruptcy is imposed by a court order,often initiated by the debtor.
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation,competitive markets,price systems,private property,property rights recognition,voluntary exchange,and wage labor. In a market economy,decision-making and investments are determined by owners of wealth,property,or ability to maneuver capital or production ability in capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets.
In economics,a free market is an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers. Such markets,as modeled,operate without the intervention of government or any other external authority. Proponents of the free market as a normative ideal contrast it with a regulated market,in which a government intervenes in supply and demand by means of various methods such as taxes or regulations. In an idealized free market economy,prices for goods and services are set solely by the bids and offers of the participants.
A market economy is an economic system in which the decisions regarding investment,production and distribution to the consumers are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production.
In finance,default is failure to meet the legal obligations of a loan,for example when a home buyer fails to make a mortgage payment,or when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt.
Fredric Jameson is an American literary critic,philosopher and Marxist political theorist. He is best known for his analysis of contemporary cultural trends,particularly his analysis of postmodernity and capitalism. Jameson's best-known books include Postmodernism,or,The Cultural Logic of Late Capitalism (1991) and The Political Unconscious (1981).
A loan shark is a person who offers loans at extremely high interest rates,has strict terms of collection upon failure,and generally operates outside the law.
Alfred DuPont Chandler Jr. was a professor of business history at Harvard Business School and Johns Hopkins University,who wrote extensively about the scale and the management structures of modern corporations. His works redefined business and economic history of industrialization. He received the Pulitzer Prize for History for his work,The Visible Hand:The Managerial Revolution in American Business (1977). He was a member of both the American Academy of Arts and Sciences and the American Philosophical Society. He has been called "the doyen of American business historians".
Nexum was a debt bondage contract in the early Roman Republic. A debtor pledged his person as collateral if he defaulted on his loan. Details as to the contract are obscure and some modern scholars dispute its existence. It was allegedly abolished either in 326 or 313 BC.
Debt collection is the process of pursuing payments of money or other agreed-upon value owed to a creditor. The debtors may be by individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector. Most collection agencies operate as agents of creditors and collect debts for a fee or percentage of the total amount owed. Historically,debtors could face debt slavery,debtor's prison,or coercive collection methods. In the 21st century in many countries,legislation regulates debt collectors,and limits harassment and practices deemed unfair.
Andrew Ross,a Scottish-born social activist and analyst,is Professor of Social and Cultural Analysis at New York University (NYU). He has authored and edited numerous books,and written for The New York Times,The Guardian,The Nation,Newsweek,and Al Jazeera. Much of his writing focuses on labor,the urban environment,and the organisation of work,from the Western world of business and high-technology to conditions of offshore labour in the Global South. Making use of social theory as well as ethnography,his writing questions the human and environmental cost of economic growth.
Fiscal conservatism or economic conservatism is a political and economic philosophy regarding fiscal policy and fiscal responsibility with an ideological basis in capitalism,individualism,limited government,and laissez-faire economics. Fiscal conservatives advocate tax cuts,reduced government spending,free markets,deregulation,privatization,free trade,and minimal government debt. Fiscal conservatism follows the same philosophical outlook of classical liberalism. This concept is derived from economic liberalism.
Lizabeth Cohen is the current Howard Mumford Jones Professor of American Studies in the History Department at Harvard University,as well as a Harvard University Distinguished Service Professor. From 2011-2018 she served as the Dean of Harvard's Radcliffe Institute for Advanced Study. Currently,she teaches courses in 20th-century America,with a focus on urbanism,the built environment,and public history. She has also served as the Chair of the History Department at Harvard,director of the undergraduate program in history,and director of the Charles Warren Center for Studies in American History,among other administrative duties.
Hyman Philip Minsky was an American economist,a professor of economics at Washington University in St. Louis,and a distinguished scholar at the Levy Economics Institute of Bard College. His research attempted to provide an understanding and explanation of the characteristics of financial crises,which he attributed to swings in a potentially fragile financial system. Minsky is sometimes described as a post-Keynesian economist because,in the Keynesian tradition,he supported some government intervention in financial markets,opposed some of the financial deregulation of the 1980s,stressed the importance of the Federal Reserve as a lender of last resort and argued against the over-accumulation of private debt in the financial markets.
In the United States,student loans are a form of financial aid intended to help students access higher education. In 2018,70 percent of higher education graduates had used loans to cover some or all of their expenses. With notable exceptions,student loans must be repaid,in contrast to other forms of financial aid such as scholarships,which are not repaid,and grants,which rarely have to be repaid. Student loans may be discharged through bankruptcy,but this is difficult.
Sumner Huber Slichter was an American economist and the first Lamont University Professor at Harvard University. Slichter was considered by many to be the pre-eminent labor economist of the 1940s and 1950s. Slichter was adamantly opposed to the labor movement,and called repeatedly for legislation against unionization. Slichter was also a critic of the New Deal."
Lawrence B. Glickman is an American history professor and author or editor of four books and several articles on consumerism. He has taught at Cornell University since 2014,where he is Stephen and Evalyn Milman Professor in American Studies. Previously he taught at the University of South Carolina. Glickman earned a Princeton University B.A. in history magna cum laude in 1985,a M.A. in 1989 and his Ph.D. in 1992 both from University of California,Berkeley. He has written three books,A Living Wage:American Workers and the Making of Consumer Society,Buying Power:A History of Consumer Activism in America,and Free Enterprise:An American History.
Debtor Nation:The History of America in Red Ink is a book written by Harvard economic historian Louis Hyman and published by Princeton University Press in 2011.
Economic democracy is a socioeconomic philosophy that proposes to shift ownership and decision-making power from corporate shareholders and corporate managers to a larger group of public stakeholders that includes workers,consumers,suppliers,communities and the broader public. No single definition or approach encompasses economic democracy,but most proponents claim that modern property relations externalize costs,subordinate the general well-being to private profit and deny the polity a democratic voice in economic policy decisions. In addition to these moral concerns,economic democracy makes practical claims,such as that it can compensate for capitalism's inherent effective demand gap.
Jessica Silver-Greenberg is a business reporter for The New York Times whose investigative reporting on consumer financial issues has been cited in the U.S. Supreme Court and the U.S. Congress.
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