Jubilee

I mentioned before that I was reading the Bible with my wife.  The current economic problems have brought to mind the part about the year of Jubilee.  In case you are unfamiliar with it the Biblical year of jubilee it worked out that every 49 years or so everyone's debts were forgiven.  Now, this was well published so all the lenders would figure up the years left till jubilee for any loans they would give.  I wondered out loud how that would look in today's world.  The first thing my wife said is that it would destroy the economy.


I agree.  It would destroy the economy.  It would do so reliably every 49 years.  On a schedule.  One that you could plan on.  In an organized fashion which in my mind beats what we are looking at now.

The economy seems to be following something called a Kondratiev wave.  I find it really interesting that these waves follow roughly the same time period as the years of jubilee.

This is something that would be simple to write into law, but nearly impossible to follow through on.  Politicians in office when jubilee approached would have levels of resolve not normally found in democratic societies.