Hoffman, Philip T. creator Poster-Vinay, Gilles Co-author Rosenthal, Jean-Laurent Co-author text New Jersey Princeton University Press 2019 monographic eng

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vii, 303 p. Includes bibliographical reference and index Dark Matter Credit traces how this extensive private network outcompeted banks and thrived prior to World War I—not just in France but in Britain, Germany, and the United States—until killed off by government intervention after 1918. Overturning common assumptions about banks and economic growth, the book paints a revealing picture of an until-now hidden market of thousands of peer-to-peer loans made possible by a network of brokers who matched lenders with borrowers and certified the borrowers’ creditworthiness. 9780691182179 RTL 260409 20260409093750.0