It would not be wrong to suggest that we have been undergoing a “global turn” in Ottoman studies for some time. Historians increasingly tend to situate the Ottoman experience in a world historical context in a comparative and connected fashion. Rather than an isolated imperial trajectory of Ottoman his-tory, which could only be explained through internal realities and meanings, some Ottomanists increasingly tend to link the Ottoman experience with cer-tain large-scale (e.g., global, Afro-Eurasian, European, Mediterranean, Indian Ocean) movements, transformations, and events. The “early modern” seems to be the key notion facilitating the Ottoman “global turn.” It helps scholars of the Ottoman world to “synchronize” Ottoman realities with structural changes in other parts of the world, particularly Europe, from the fifteenth to the nine-teenth centuries, during which we see increasing (and asymmetrical) interac-tions at a global scale. However, both the “global” and “early modern” turns come with certain limits and costs, which we should take into consideration and problematize.

Does additional shareholder liability reduce bank failure? We compare the performance of around 4,400 state-regulated banks of similar size in neighboring U.S. states with different liability regimes during the Great Depression. We find that additional shareholder liability reduced bank failure by 30%. Results are robust to a diff-in-diff analysis incorporating National banks (which faced the same regulations in every state), and are not driven by other differences in state regulation, FED membership, or differential selection into state and nationally regulated banks. Our results suggest that exposing shareholders to more downside risk reduces bank risk taking.

In recent years, some prominent scholars have been making a surprising claim: examining literary texts for hidden depths is overblown, misguided, or indeed downright dangerous. Such examination, they've warned us, may lead to the loss of world Heidegger warned of (Gumbrecht), to the world-denying metaphysics Nietzsche warned of (Nehamas), or to the suspicious form of hermeneutics Ricoeur warned of (Best, Marcus, Moi). This paper seeks to suggest that, though the concerns are understandable, there's ultimately nothing to worry about. The fact that Nietzsche himself happily used metaphors of surface and depth suggests that they are not, in fact, metaphysically fraught. The fact that it's possible to appreciate surfaces at the same time as depths means that there's no real danger of losing the world. And as for depth-talk turning us into suspicious hermeneuts, that would happen only if we made two fallacious assumptions: first, that all depths are meanings; second, that all hidden features are in a text by accident. But since plenty of authors hide things deliberately, and since what's hidden often has nothing to do with propositional content, both assumptions are profoundly mistaken. Meanwhile, the surface/depth metaphor is the only thing that adequately captures the phenomenology of reading, especially when it comes to misdirection-based, hermetic, enigmatic, ironic, or satirical texts, where special activity on our part prompts a sudden leap to a radically different mode of understanding. And unlike its rivals, the surface/depth metaphor reflects a real asymmetry: depths explain surfaces, but not vice versa; surfaces are available without depths, but not the other way around. We need the metaphor, and we need to stay open to hidden depths as we read. As long as we don't come in with terrible assumptions, nothing bad will happen to us, and plenty of good things will. It's perfectly safe to go back in the water.

We study the impact of marital property legislation passed in the US South in the 1840s on households’ investment in risky, entrepreneurial projects. These laws protected the assets of newly married women from creditors in a world of virtually unlimited liability. We compare couples married after the passage of a marital property law with couples from the same state who were married before. Consistent with a simple model of household borrowing that trades off agency costs against risk sharing, the effect on investment was heterogeneous. It increased if most household property came from the husband and decreased if most came from the wife.

• The first volume that brings together the work of scholars pioneering digital approaches to the Republic of Letters
• Innovative applications of social network analysis and digital methods to provide new perspectives on the Republic of Letters
• Exciting new perspectives on the European networks that made up the Republic of Letters
• A volume that elegantly combines traditional humanistic inquiry with innovative digital methods, to offer fresh perspectives on some of the most important issues in eighteenth-century studies
• This volume provides exemplary models of how social network analysis (SNA) can be adapted for historical research