Spatial Variety versus Centralization
Spatial Variety versus Centralization
Change in Eighteenth-Century Credit Markets
This chapter talks about how in the long buildup to the 1780s, the economy had been growing, along with the population, literacy rates, and inequality. At the same time, the volume of private lending had soared, particularly in cities, and more so in Paris than anywhere else. But lending in 1780 was not simply a city affair, for loans were made throughout France. In fact, in 1780, eighty percent of borrowers still got their loans in communities of fewer than five thousand inhabitants. The volume of new debt was centralized in cities, even though loans themselves were still dispersed across small towns and villages. In short, the credit market was diverse, and it was changing, in ways that affected the types of loan contracts that lenders and borrowers chose and the services that notaries provided.
Keywords: 1780s, economy, private lending, Paris, loans, borrowers, debt, credit market, loan contracts, notaries
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