The recent sovereign debt crisis raises a debate on whether the cancelation of sovereign debt is compatible with democracy. Scholars opposed to the cancelation of sovereign debt refer to the Glorious Revolution of 1688, in which the British government began to make the people as a whole liable...

This article provides a new perspective on sovereign finance and money in England from pre-modern to early modern times. Re-reading the literature on sovereign fiscality through the lens of sovereign jurisdictions and religious authority, it describes two distinct forms of sovereign finance: the...