A Debt Jubilee?

This proposal is something that occurred to me as well as a form of a modified debt Jubilee. 

I have been wanting for some time to talk about Lev 25 and the Year of the Jubilee. Here is  sample from Lev 25:

³⁹ “‘If any of your fellow Israelites become poor and sell themselves to you, do not make them work as slaves. ⁴⁰ They are to be treated as hired workers or temporary residents among you; they are to work for you until the Year of Jubilee. ⁴¹ Then they and their children are to be released, and they will go back to their own clans and to the property of their ancestors. ⁴² Because the Israelites are my servants, whom I brought out of Egypt, they must not be sold as slaves. ⁴³ Do not rule over them ruthlessly, but fear your God.

The broad picture is clear, one who is successful is not to exploit the poor. This is not the American Way. 

Comments

[Eric Anderson]

I do not like Keen's solution. It sounds massively inflationary...

[[Positive Dennis]]

You forget fractional reserve banking. Every dollar in debt reduction REDUCES the money supply by $10.