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> and it is quite practical. It would be brutal. Very few would be able to get credit, and those that could would come under constant pressure to liquidate as
by _rpd 10y ago
> and it is quite practical.
It would be brutal. Very few would be able to get credit, and those that could would come under constant pressure to liquidate assets.
> land is pooled and redivided
If the government tried to seize and redistribute private land, there would be civil war.
I think we have different definitions of practical.
- posguy 10y agoWiping away your debts wouldn't horribly destroy the credit bureaus, and short of the 1% rising up I doubt there would be civil war. Lending did not stop in ancient palestine due to Jubilee, if anything it provided a pressure relief in the form of a second chance where everyone was equalized in assets. Circling back to an uprising by the 1%, I'd be impressed if there weren't sufficient people ready to quell the rebellion, as it is in the interest of the vast majority to have a Jubilee year. If it is not in the interest of the majority of people to have a Jubilee, then wealth is likely not significantly stratified.
- LyndsySimon 10y ago> Wiping away your debts wouldn't horribly destroy the credit bureaus, and short of the 1% rising up I doubt there would be civil war I don't believe you have a full understanding of American society, particularly in the rural areas of the country.