Debt Forgiveness in modern times
“A debt jubilee is a clearance of debt from public records across a wide sector or a nation.”
A debt jubilee is a clearance of debt from public records across a wide sector or a nation. Such a jubilee was proposed as a solution to debt incurred or anticipated during the COVID-19 recession. The American economist Michael Hudson is a proponent of a debt jubilee, writing in a Washington Post op-ed that it was an alternative to a depression. Similarly, anthropologist David Graeber pointed to kings’ historical use of debt jubilees during regime changes to suggest that a debt jubilee would have been an appropriate response to the 2008 financial crisis. Australian economist Steve Keen is a proponent of debt jubilee. (source – Wikipedia).
WATCH: the 'Great Debt Debate'
"Is Debt Forgiveness a realistic 'ethical' Solution to safeguard billions from World poverty?"
The biggest debt write-offs in the history of the world | Telegraph
From ancient Babylon to 1930s Europe, debt jubilees have been far more common than discussions over Greece would suggest. Read Article
Russia Writes Off $23 billion Debt of African Countries | Politics Nigeria,
28 July 2023.
The Russian Government has written off African countries’ $23 billion debt burden. Read Article.
Biden administration wipes out $53bn in student loan debt – | BBC News BBC News, 15 July 2023.
The Biden administration has wiped out $39bn (£29.7bn) in student loans for 804,000 borrowers with debts outstanding for more than 20 years… Read Article
Sound the trumpet! Debt Jubilees have arrived | Financial Times | 02 Februry 2015.
From ancient Babylon to 1930s Europe, debt jubilees have been far more common than discussions over Greece would suggest… Read Article
To ‘level up’ – the UK needs a jubilee, a mass write-off of debts. | Resillience.org, June 2 2022.
As the Queen’s Chaplain herself reminded us on Radio 4’s ‘Thought for the Day’ this week, the word ‘jubilee’ isn’t just another term for an anniversary, monarchical or otherwise, nor a byword for bunting. The biblical ‘jubilee’ was the blast of a trumpet, every 50 years, that heralded the write-off of everyone’s debts....
Debt Jubilee – will our debts be written off? | Moneyweek, 28 March 2020.
The idea of a “debt jubilee” – general society-wide cancellation of debt – goes back to Biblical times. Could it happen again? And would it really do any good? Read Article.
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