Debt jubilee explained

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.^{[1] [2]} 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.^{[3] [4]} 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.^[5] Australian economist Steve Keen is a proponent of debt jubilee.^[6]

See also

• Jubilee (biblical)
• Jubilee 2000
• Seisachtheia
• Write-down

Further reading

• Web site: Goodhart . Charles . Hudson . Michael . Some ways to introduce a modern debt Jubilee . VoxEU . 11 June 2018 .
• Herrine . Luke . The Law and Political Economy of a Student Debt Jubilee . Buffalo Law Review . 1 April 2020 . 68 . 2 . 281–411 . 3442234 .

Notes and References

1. News: Gordon . Cameron . The debt jubilee: an Old Testament solution to a modern financial crisis? . The Conversation . 30 April 2013 .
2. News: Wilson . Simon . Debt jubilee: will our debts be written off? . MoneyWeek . 28 March 2020 .
3. News: Brancaccio . David . Shin . Daniel . To avoid a depression, forgive debts, one economist says . Marketplace . 2 April 2020 .
4. News: Hudson . Michael . A debt jubilee is the only way to avoid a depression . Washington Post . 21 March 2020 .
5. Book: Graeber . David . Debt : the first 5,000 years . 2011 . Melville House . Brooklyn, N.Y. . 978-1-933633-86-2. This was also the goal of the Rolling Jubilee campaign at the time.
6. Web site: Steve Keen – Reducing Debt via a Modern Debt Jubilee . www.braveneweurope.com . 8 May 2021 . 5 October 2022.