"This book sets forth a careful analysis of the fundamentals of bankruptcy law. It provides a keen insight into the subject. The author's premise is that there is an intellectual coherence that underlies bankruptcy law and that its first or underlying principles are few and elegant. Bankruptcy law can be used to keep firms in operation, and bankruptcy law inevitably touches other bodies of law. These principles can then be developed by defining their potential operation in the existing social, economic, and legal world to identify precisely what bankruptcy law should encompass, how it can accomplish its goals, and the constraints on its ability to do so. The purpose of the book is to suggest what the underpinnings of bankruptcy law should be and then to apply that learning to a variety of issues while testing the existing bankruptcy law against them. The book is designed to prod analysts to think about these underpinnings in analyzing bankruptcy problems. This book will prove interesting reading to bankruptcy attorneys, other attorneys, business persons, and those fascinated by the interplay between economics and policy. Book jacket."--BOOK JACKET.