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In Buying Time, Thomas F. McDow synthesizes Indian Ocean, Middle Eastern, and East African studies as well as economic and social history to explain how, in the nineteenth century, credit, mobility, and kinship knit together a vast interconnected Indian Ocean region. That vibrant and enormously influential swath extended from the desert fringes of Arabia to Zanzibar and the Swahili coast and on to the Congo River watershed.

In the half century before European colonization, Africans and Arabs from coasts and hinterlands used newfound sources of credit to seek out opportunities, establish new outposts in distant places, and maintain families in a rapidly changing economy. They used temporizing strategies to escape drought in Oman, join ivory caravans in the African interior, and build new settlements.

The key to McDow’s analysis is a previously unstudied trove of Arabic business deeds that show complex variations on the financial transactions that underwrote the trade economy across the region. The documents list names, genealogies, statuses, and clan names of a wide variety of people—Africans, Indians, and Arabs; men and women; free and slave—who bought, sold, and mortgaged property. Through unprecedented use of these sources, McDow moves the historical analysis of the Indian Ocean beyond connected port cities to reveal the roles of previously invisible people.

Year after year a woman sits in her bare living quarters with her bags packed. She is waiting for a phone call from her snakehead, or human smuggler. That longed-for call will send her out her door, away from Fuzhou, China, on a perilous, illicit journey to the United States. Nothing diffuses the promise of an overseas destiny: neither the ever-increasing smuggling fee for successful travel nor her knowledge of the deadly risks in transit and the exploitative labor conditions abroad. The sense of imminent departure enchants her every move and overshadows the banalities of her present life. In this engrossing ethnographic account of how the Fuzhounese translate their desires for mobility into projects worth pursuing, Julie Y. Chu focuses on Fuzhounese efforts to recast their social horizons beyond the limitations of “peasant life” in China. Transcending utilitarian questions of risks and rewards, she considers the overflow of aspirations in the Fuzhounese pursuit of transnational destinations. Chu attends not just to the migration of bodies, but also to flows of shipping containers, planes, luggage, immigration papers, money, food, prayers, and gods. By analyzing the intersections and disjunctures of these various flows, she explains how mobility operates as a sign embodied through everyday encounters and in the transactions of persons and things.

Access to credit is an important means of providing people with the opportunity to make a better life for themselves. Loans are essential for most people who want to purchase a home, start a business, pay for college, or weather a spell of unemployment. Yet many people in poor and minority communities—regardless of their creditworthiness—find credit hard to come by, making the climb out of poverty extremely difficult. How dire are the lending markets in these communities and what can be done to improve access to credit for disadvantaged groups? In Credit Markets for the Poor, editors Patrick Bolton and Howard Rosenthal and an expert team of economists, political scientists, and legal and business scholars tackle these questions with shrewd analysis and a wealth of empirical data. Credit Markets for the Poor opens by examining what credit options are available to poor households. Economist John Caskey profiles how weak credit options force many working families into a disastrous cycle of short-term, high interest loans in order to sustain themselves between paychecks. Löic Sadoulet explores the reasons that community lending organizations, which have been so successful in developing countries, have failed in more advanced economies. He argues the obstacles that have inhibited community lending groups in industrialized countries—such as a lack of institutional credibility and the high cost of establishing lending networks—can be overcome if banks facilitate the community lending process and establish a system of repayment insurance. Credit Markets for the Poor also examines how legal institutions affect the ability of the poor to borrow. Daniela Fabbri and Mario Padula argue that well-meaning provisions making it more difficult for lenders to collect on defaulted loans are actually doing a disservice to the poor in credit markets. They find that in areas with lax legal enforcement of debt agreements, credit markets for the poor are underdeveloped because lenders are unwilling to take risks on issuing credit or will do so only at exorbitant interest rates. Timothy Bates looks at programs that facilitate small-business development and finds that they have done little to reduce poverty. He argues that subsidized business creation programs may lure inexperienced households into entrepreneurship in areas where little profitable investment is possible, hence setting them up for failure. With clarity and insightful analysis, Credit Markets for the Poor demonstrates how weak credit markets are impeding the social and economic mobility of the needy. By detailing the many disadvantages that impoverished people face when seeking to borrow, this important new volume highlights a significant national problem and offers solutions for the future.

In Old Regime France credit was both a central part of economic exchange and a crucial concept for explaining dynamics of influence and power in all spheres of life. Contemporaries used the term credit to describe reputation and the currency it provided in court politics, literary production, religion, and commerce. Moving beyond Pierre Bourdieu's theorization of capital, this book establishes credit as a key matrix through which French men and women perceived their world. As Clare Haru Crowston demonstrates, credit unveils the personal character of market transactions, the unequal yet reciprocal ties binding society, and the hidden mechanisms of political power.

Credit economies constituted "economies of regard" in which reputation depended on embodied performances of credibility. Crowston explores the role of fashionable appearances and sexual desire in leveraging credit and reconstructs women's vigorous participation in its gray markets. The scandalous relationship between Queen Marie Antoinette and fashion merchant Rose Bertin epitomizes the vertical loyalties and deep social divides of the credit regime and its increasingly urgent political stakes.

In six short years, Galileo Galilei went from being a somewhat obscure mathematics professor running a student boarding house in Padua to a star in the court of Florence to the recipient of dangerous attention from the Inquisition for his support of Copernicanism. In that brief period, Galileo made a series of astronomical discoveries that reshaped the debate over the physical nature of the heavens: he deeply modified the practices and status of astronomy with the introduction of the telescope and pictorial evidence, proposed a radical reconfiguration of the relationship between theology and astronomy, and transformed himself from university mathematician into court philosopher.

Galileo's Instruments of Credit proposes radical new interpretations of several key episodes of Galileo's career, including his early telescopic discoveries of 1610, the dispute over sunspots, and the conflict with the Holy Office over the relationship between Copernicanism and Scripture. Galileo's tactics during this time shifted as rapidly as his circumstances, argues Mario Biagioli, and the pace of these changes forced him to respond swiftly to the opportunities and risks posed by unforeseen inventions, further discoveries, and the interventions of his opponents.

Focusing on the aspects of Galileo's scientific life that extend beyond the framework of court culture and patronage, Biagioli offers a revisionist account of the different systems of exchanges, communication, and credibility at work in various phases of Galileo's career. Galileo's Instruments of Credit will find grateful readers among scholars of science studies, historical epistemology, visual studies, Galilean science, and late Renaissance astronomy.

This pathbreaking book shows how credit markets functioned in Paris, through the agency of notaries, during a critical period of French history. Its authors challenge the usual assumption that organized financial markets—and hence the opportunity for economic growth—did not emerge outside of England and the Netherlands until the nineteenth century. Drawing on innovative research, the authors show that as early as the Old Regime, financial intermediaries in France were mobilizing a great tide of capital and arranging thousands of loans between borrowers and lenders.

The implications for historians and economists are substantial. The role of notaries operating in Paris that Priceless Markets uncovers has never before been recognized. In the wake of this pathbreaking new study, historians will also have to rethink the origins of the French Revolution. As the authors show, the crisis of 1787-88 did not simply ignite revolt; it was intimately bound up in an economic struggle that reached far back into the eighteenth century, and continued well into the 1800s.

Occasionally scholars discover lost primary sources that change our understanding of a place or period. James Richards's day book is such a find. This 325-year-old ledger had been passed down through generations of a New England family and was stored in a pillowcase in a dusty attic when it was handed to the historian James E. Wadsworth.

For years, James Richards, a prosperous and typical colonial farmer, tracked nearly five thousand transactions, involving more than six hundred individuals and stretching from Charlestown to Barnstable. Richards and his neighbors were bound together in a heterogeneous economy, reliant on networks of credit, barter, and sometimes cash. Richards practiced mixed husbandry farming, shipped goods by cart and by sloop, and produced and sold malt, salt, wool, and timber. The day book also reveals significant social details of Richards and his household, including his diverse trading partners, his extensive family connections, an Indian slave girl, and a well-dressed female servant. Available in both print and electronic editions, fully transcribed, annotated, and introduced by the editor, this record of economic life reinforces and challenges our understanding of colonial America.