Posts Tagged ‘debt forgiveness’

Road to a Grecian Turn

January 30, 2015

With apology to John Keats, a new poem for 2015:

 

Oh, You unbridled bride of Entitlement,

Can you still afford to pay the Rent?

You, love-child of Austerity and Free-spending,

Is your ambrosia Never-ending?

Paid debts are sweet, but those unpaid are sweeter

says your new Syriza leader,

’cause we’ve got to get the people working,

so in Unemployment they’ll not be lurking.

Ah, happy, happy days that cannot end,

as long as EU-lovers still do send

debt forgiveness, and credits new

so you’ll never bid EU adieu.

UmbrelSyntagm

Who are these coming to the Sacrifice?

a little help from Euro friends would sure be nice.

The Germans, the French, will surely come

and Play the Games until they’re done!

MarblStrt2

Oh Athenic State, on marbled path of Austerity

Can you reach that elusive peak of Victory?

Winged Athens, her goddess wings now torn away–

Has she lost her head in heat of the fray?

PleatedFigur

Oh, for ever may you live, and Greece be fair!

as long as EU pals still care.

Austerity puts Prosperity on the go–

That’s all you really need to know!

Glass Chimera

AcrpRokFlag

The Working Principle of Jubilee

October 30, 2011

In ancient Israel, the land was understood to be a posession of God, with its owners being stewards, or caretakers. When a parcel was sold by one Israelite to another, its transferrance was considered a lease of the land’s use–that is to say, a sale of future crops therein–not an absolute ownership, since that domain was reserved to the Creator alone.

In order that the people of God might establish a manageable economy, their Creator mandated a fifty year cycle–a system of seven revolving seven-year periods, plus one extra year, later called the (50th) year of “jubilee.” By this revolving arrangement the natural inclination of human productivity toward inflation would be neutralized with a built-in systematic deflation. A sale of land in year 1 of the cycle would obstensibly be worth 49 times its value in year 49, since 49 prospective crops were understood to be the virtual substance of the transaction.

Furthermore, the working out of this economy also required that existing debts among Israelites be cancelled every seven years, and also that indentured servants or slaves be freed in that same seventh (sabbath) year. In the 50th year, at the end of the cycle, the land itself was returned to its original family of ownership of fifty years ago.

By this means, incentives for upward mobility of productive people were woven into the economy, and periodic debt forgiveness eliminated accruals of huge, unsurmountable debt among the working people. Accumulations of vast landed estates and monopolistic entities were also prevented, if the system was working as the Creator had designed it.

In this way, the followers of God were set up to prosper, both individually, familially, and collectively, according to the respective levels of their own chosen productivity and stewardship. And a constant deliverance of the poverty-stricken (unemployed) persons from a poorhouse fate would preclude a permanant underclass.

In real time, it didn’t exactly work out that way, but the theoretical principles of Sabbaths, Jubilee, systematic deflation (not as bad as it sounds), and debt forgiveness might be worth considering in light of our presently hyper-leveraged circumstances.

The principle of regular sabbath renewals goes back to God’s original creative work as it is figuratively documented in Genesis. God revealed himself to humans as a Creator. A definitive part of that creative process included rest and introspective recovery for the sake of developmentally corrective alignment.

If you care to learn more about this divine economy, and perhaps to consider its applications to modern existence, read Leviticus 25 and Deutoronomy 15, in the Bible.

Glass half-Full