Economics
A 5,000-Year-Old Plan to Erase Debts Is Now a Hot Topic in America
- Student-loan waiver may aid economy; critics call it unfair
- Debate echoes ancient Babylon -- also, 2008 mortgage crisis
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In ancient Babylon, a newly enthroned king would declare a jubilee, wiping out the population’s debts. In modern America, a faint echo of that idea -- call it jubilee-lite -- is catching on.