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121 — Debt Jubilee
Manage episode 284214319 series 2870328
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Our society is becoming increasingly indebted. This is creating financial instability and slowing down our economy. Some people suggest that the solution is to have periodic "debt jubilees" in which the debts of private individuals are completely forgiven. This process can quickly become complicated. What about the people who are depending on cash flows from those debts being paid?
What would happen if the government paid people's debts for them? How does that compare to an ongoing basic income that makes it easier for people to pay their own debts? If we periodically have to press a reset button on our debt, is it a sign of a deeper problem in our economy?
For optional reading, we have a recent article from Democracy Journal by Richard Vague entitled, "It's time for a Debt 'Jubilee'"
https://democracyjournal.org/arguments/its-time-for-a-debt-jubilee/
Previous related Boston Basic Income topics have included:
https://youtu.be/7_tG_QBfR54 — BBI #20: National Debt
https://youtu.be/iwSNkGTJYts — BBI #49: Debt and Credit
https://youtu.be/_uWVbG6Yezc — BBI #117: Sovereign Money
Photo by Mohamed Nohassi on Unsplash
(https://unsplash.com/photos/odxB5oIG_iA)
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