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.
See also
References
- Gordon, Cameron (30 April 2013). "The debt jubilee: an Old Testament solution to a modern financial crisis?". The Conversation.
- Wilson, Simon (28 March 2020). "Debt jubilee: will our debts be written off?". MoneyWeek.
- Brancaccio, David; Shin, Daniel (2 April 2020). "To avoid a depression, forgive debts, one economist says". Marketplace.
- Hudson, Michael (21 March 2020). "A debt jubilee is the only way to avoid a depression". Washington Post.
- Graeber, David (2011). Debt : the first 5,000 years. Brooklyn, N.Y.: Melville House. ISBN 978-1-933633-86-2. This was also the goal of the Rolling Jubilee campaign at the time.
- "Steve Keen – Reducing Debt via a Modern Debt Jubilee". www.braveneweurope.com. 8 May 2021. Retrieved 5 October 2022.
Further reading
- Goodhart, Charles; Hudson, Michael (11 June 2018). "Some ways to introduce a modern debt Jubilee". VoxEU.
- Herrine, Luke (1 April 2020). "The Law and Political Economy of a Student Debt Jubilee". Buffalo Law Review. 68 (2): 281–411. SSRN 3442234.
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