A similar act occurred as part of what may now be regarded as the foundation of Western democracy: https://en.m.wikipedia.org/wiki/Seisachtheia https://en.m.wi

A similar act occurred as part of what may now be regarded as the foundation of Western democracy: https://en.m.wikipedia.org/wiki/Seisachtheia https://en.m.wikipedia.org/wiki/Seisachtheia was a regular feature of the ancient world: https://en.m.wikipedia.org/wiki/Jubilee_(Biblical) https://en.m.wikipedia.org/wiki/Jubilee_(Biblical) and occurs on a smaller scale in our own society on a daily basis: https://en.m.wikipedia.org/wiki/Bankruptcy https://en.m.wikipedia.org/wiki/Bankruptcy So if we ask a so-called expert on the subject, what will he say? Among economists, the scheme is regarded as unprecedented and exceptional. "I can't think of anything comparable," Dean Baker, co-director of the Washington-based Center for Economic and Policy Research, told The Washington Post. Of course he's against it anyway.