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naraburns  nihil supernum  1yr ago (text post)   38427 thread views

Culture War Roundup for the week of March 27, 2023

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The fact that everyone considers them wicked and greedy and yet they're rich rubs salt in the festering sores, which from Japan to England to Russia would periodically result in a purge of the moneylending class when the ruling class found it inconvenient to repay their debts.

There's a general argument saying that perhaps it's better for long-term stability of society that debts gets annulled from time to time, because otherwise, especially in relatively static farming societies, Matthew effect result in socially undesirable concentrations of wealth, no ?

I don't know, is there? "There's a general argument" seems awfully vague and evasive to me, almost as if you want to make an argument that you do not want to state explicitly. So please elaborate. I'm particularly interested in how you think such an annulment should be executed vis a vis moneylending classes.

What’s ironic is that very notion was written into the founding documents of the Nation of Israel, the Year of Jubilee. No generational debt, and everyone has a home property they can return to.

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