[alexis2b]

There is also in the Bible the notion of a 50 years periodic Jubilee[1] when all debts would be canceled and the system effectively resets.

[1] https://en.wikipedia.org/wiki/Jubilee_(biblical)

[PopePompus]

Wouldn't that kinda make it difficult for anyone to get a mortgage during year 49?

[LorenPechtel]

Yeah, it would play havoc with durable-goods industries in the last few years of the cycle.

[rthomas6]

Oh no!

[Interloper2]

ha! It may be in the Bible, but Jubilee was never celebrated, not even once.

[Terr_]

Whether or not it happened exactly as described within the Torah/Bible, we have plenty of records to indicate ancient societies regularly overturned debts.

... Unless you're making a joke that it happened but was not "celebrated" because most people didn't like it.

[JumpCrisscross]

> Jubilee was never celebrated

Ancient societies of all stripes had periodic debt forgiveness. Ancient (pre-Christian) Rome, for example.