Very interesting and unexpected that you would go to a literal interpretation of the bible (including the original Greek!) to look for the historical justification for debt forgiveness. Bravo!
Updating to today (and the need to keep EVERYONE on the ‘plus side of the ledger’) I strongly promote a Universal Basic Income. Almost no one anymore lives on a farm that produces income or goods directly and we are all captive of corporations, which owe their creation to the state. Corporations in turn take resources (ultimately from the state’s resources after paying a token royalty) and sell them back to us at a profit. The government then owes something to the citizens of the state for allowing all that to happen, and I would monetize it as a UBI.
It started with stumbling across the argument that "and forgive us our debts" which is the translation of the Lord's Prayer in Matthew was the original, and correct interpretation, not forgive us our trespasses. Michael Hudson's book is very good, but it is a tough slog and quite dense.
However, it's one of those things that once you start seeing it, it is everywhere and you are exactly right, it is the literal word of the Bible.
The same lessons apply today. What you are describing is exactly correct: farmers have been returned to being tenant farmers and are all working for corporations instead of themselves.
While UBI is good in principle, Hudson has argued that unless we have debt restructuring and forgiveness, the funds for UBI will flow straight through to creditors.
Debt restructuring is essential for getting out of our current trap. Failing to restructure debts turned Rome from a republic into an empire. Succeeding in restructuring debts turned Athens from an oligarchy back to a democracy.
Yes I have posted elsewhere that UBI can be looked at as a backdoor bank bailout.
Those without debt would benefit the most from UBI, no question, and that would include those whose current income is so low they cannot “afford” debt.
Debt forgiveness would be essential if asset values get reset in a crash (which is possible no doubt), but I would still argue UBI should come first so that the immediate weight on the people who are struggling to stay above water is reduced.
Excellent article and fascinating on so many levels. Religion historically has been about control and economics and patriarchy. Not much has changed in today’s world - just faster & bigger.
Very interesting and unexpected that you would go to a literal interpretation of the bible (including the original Greek!) to look for the historical justification for debt forgiveness. Bravo!
Updating to today (and the need to keep EVERYONE on the ‘plus side of the ledger’) I strongly promote a Universal Basic Income. Almost no one anymore lives on a farm that produces income or goods directly and we are all captive of corporations, which owe their creation to the state. Corporations in turn take resources (ultimately from the state’s resources after paying a token royalty) and sell them back to us at a profit. The government then owes something to the citizens of the state for allowing all that to happen, and I would monetize it as a UBI.
It started with stumbling across the argument that "and forgive us our debts" which is the translation of the Lord's Prayer in Matthew was the original, and correct interpretation, not forgive us our trespasses. Michael Hudson's book is very good, but it is a tough slog and quite dense.
However, it's one of those things that once you start seeing it, it is everywhere and you are exactly right, it is the literal word of the Bible.
The same lessons apply today. What you are describing is exactly correct: farmers have been returned to being tenant farmers and are all working for corporations instead of themselves.
While UBI is good in principle, Hudson has argued that unless we have debt restructuring and forgiveness, the funds for UBI will flow straight through to creditors.
Debt restructuring is essential for getting out of our current trap. Failing to restructure debts turned Rome from a republic into an empire. Succeeding in restructuring debts turned Athens from an oligarchy back to a democracy.
Yes I have posted elsewhere that UBI can be looked at as a backdoor bank bailout.
Those without debt would benefit the most from UBI, no question, and that would include those whose current income is so low they cannot “afford” debt.
Debt forgiveness would be essential if asset values get reset in a crash (which is possible no doubt), but I would still argue UBI should come first so that the immediate weight on the people who are struggling to stay above water is reduced.
Hey there, friend.
I turned my theology degree on temporarily to address some holes in your article so you can patch 'em up for next time.
https://eventhestones.substack.com/p/a-response-to-dougald-lamont-in-hopes
Excellent article and fascinating on so many levels. Religion historically has been about control and economics and patriarchy. Not much has changed in today’s world - just faster & bigger.