3 ms·
Coincidentally 2001, 2008 and 2015 are Debt relief "Shmita" years according to Abrahamic tradition. The Bible instruction is to provide debt relief to creditors
by meric 12y ago
Coincidentally 2001, 2008 and 2015 are Debt relief "Shmita" years according to Abrahamic tradition. The Bible instruction is to provide debt relief to creditors every seven years. Putting my non-religious hat on, I wonder if this crept into the bible from ancient society's observations that human credit cycles last seven years.
- igravious 12y agoI thought it mentioned every 50 ((7*7)+1) years in the bible? Very interesting about this coinciding with a notion of a short human credit cycle in actuality. Wasn't there an economics article on here recently that claimed that there are natural short and long human credit cycles?
- meric 12y agoIn the Bible, "At the end of every seventh year you must cancel the debts of everyone who owes". In Judaism, on Shmita years debt is remitted. On Jubilee year, land lost is returned. Indentured slaves are freed. (I interpret this as returning lost collateral.) 1987 was also a Shmita year. 1967 was a Jubilee year. Israel's land was returned. The long credit cycle you referred to, may it be the Kondratiev wave?