THE FINANCIAL POWER OF THE POWERLESS: Evidence from Ottoman Istanbul on socio-economic status, legal protection and the cost of borrowing

In Ottoman Istanbul, privileged groups such as men, Muslims and other elites paid more for credit than the under-privileged – the exact opposite of what happens in a modern economy. New research by Professors Timur Kuran (Duke University) and Jared Rubin (Chapman University), published in the March 2018 issue of the Economic Journal, explains why: … Continue reading THE FINANCIAL POWER OF THE POWERLESS: Evidence from Ottoman Istanbul on socio-economic status, legal protection and the cost of borrowing