17 Jun 2012

What is a modern debt jubilee?

The Modern Debt Jubilee is one of a package of measures recommended by Professor Steve Keen. Steve is one of that rare breed an economist who predicted the beginning of the Second Great Depression which began in 2007.

In this blog I want to collect up all the links and articles about Steve's ideas particularly as they relate to the UK. This in the vain hope that one or other political party might want to take it up. There are already several groups calling for a debt jubilee for the nations impoverished by the World Bank and the IMF. But the idea of the Modern Debt Jubilee applies to developed nations, and I live in the UK.

The basic idea is that we stop bailing out the banks, and bail out the people and private sector who were conned into taking on far too much debt. And we give everyone a sum of money, with the proviso that if they have debt, the money must be used to pay off that debt.

I'll be posting more as time goes one.

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Keep is seemly & on-topic. Thanks.