Melissa B. Jacoby, "Unjust Debts: How Our Bankruptcy System Makes America More Unequal" (New Press, 2024)
In theory, bankruptcy in America exists to cancel or restructure debts for people and companies that have way too many--a safety valve designed to provide a mechanism for restarting lives and businesses when things go wrong financially. In this brilliant and paradigm-shifting book, legal scholar Melissa B. Jacoby shows how bankruptcy has also become an escape hatch for powerful individuals, corporations, and governments, contributing in unseen and poorly understood ways to race, gender, and class inequality in America. When cities go bankrupt, for example, police unions enjoy added leverage…
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