Banks, Kinship, and Economic Development: The New England Case
研究了早期新英格兰银行如何作为亲属网络的金融工具，为多元化企业筹集资本，并促进工业发展。
Early banks in New England functioned not as commercial banks in the modern sense but as the financial arms of extended kinship networks. These groups used banks to raise capital for their diversified enterprises and give their operations a stable institutional base. Because entry into banking was essentially free, favoritism in credit markets—the usual affliction of such a system—seems to have been unimportant. Instead, the economy as a whole benefited from the ease with which capital could be mobilized for industrial development.