Because of the build-up of vast levels of personal, corporate and government
debts since the 1970s, the need for redemption of these debts will be immense.
After hubris must come catharsis. It is our view that societies might have to
introduce a global ‘jubilee’ of debt cancellation – an extraordinary amnesty for
debtors. The first purpose of such an amnesty would be to release millions
of people, business enterprises and governments from the grip of parasitical
creditors, draining them of every last asset. The second purpose would be to
restore debtors to viability, enabling them once again to become productive and
economically active.
Read all of "A Green New Deal."
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