He falls under heavy debt to many creditors.
Creditors also believed that party members placed partisan interests above what creditors saw as the national interest.
When the agent is a creditor, both his consumption level and his leisure time may increase in the short run.
Conversely, a creditor will benefit from a positive wealth effect and raise his consumption level and leisure time.
Some of the names in this register are of noble creditors who are missing from the above-mentioned one.
Intuitively, the donor now avoids buying back old debt of countries that in any case default, thus reducing creditors' value of old debt.
Consequently, cash flow was a constant predicament where participants in the industry were both creditor and debtor.
Those registers that name the creditors show that the bulk of the debt was owed to nobles.
