Debt Cancellation
Let's Know Things
Colin Wright
4.8 • 593 Ratings
🗓️ 5 January 2021
⏱️ 32 minutes
🧾️ Download transcript
Summary
This week we discuss seisachtheia, Jubilee years, and student debt cancellation.
We also discuss Solon, healthcare, and the cost of higher education in the US.
This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit letsknowthings.substack.com/subscribe
Transcript
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| 0:00.0 | Depending on your interpretation of the work in question, in the book of Leviticus in the Old Testament, a Jewish and Christian |
| 0:22.1 | scriptural document, Moses was told by God to forgive some types of debt every 49 or 50 years. |
| 0:31.2 | Again, the actual span of time is up for debate, depending on how you read that particular portion |
| 0:36.7 | of that particular scripture. |
| 0:38.5 | But whatever the duration between these special years, called Jubilee years, they're meant, |
| 0:44.4 | according to this document, to be a period of reset. All slaves should be freed. All prisoners |
| 0:51.4 | returned to their families, all debts forgiven. Perhaps especially, |
| 0:56.0 | those related to property rights like land, cattle, and other valuables. Jubilee is usually |
| 1:03.5 | translated as something like year of release, though there's a chance that it's actually |
| 1:08.4 | linguistically descended from an older root word |
| 1:11.1 | that referred to the ram's horn that was reportedly blown when all debts were forgiven in this |
| 1:16.9 | manner back in the day, making the translation something more like Ram's horn blast of liberty. |
| 1:24.3 | Interestingly, the justification for this Jubilee Year concept seems to have originated |
| 1:29.3 | with the idea that the land belongs to Yahweh, to God. And thus, every 49 or 50 years, depending |
| 1:37.3 | on your interpretation, you're meant to reset things, including human possessions and debt, but also the human use of God's property, |
| 1:46.7 | meaning that in many cases, when legally applied historically, the Jubilee Year also required |
| 1:52.8 | that Jewish people not work the land for the entire year, allowing nature to reclaim their fields, |
| 1:59.0 | which supports the assertion that this may have originated, |
| 2:02.0 | like many religious traditions, as a narrative mechanism for enforcing a valuable practice, |
| 2:08.0 | in this case a field-fallowing cycle, allowing crop land to replenish its nutrients in a natural way |
| 2:15.6 | after a long period of being worked for human-centric crop |
| 2:19.2 | purposes. Whatever the case may be, though, it would seem that this concept was enforced for a while |
... |
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