Modern Debt Jubilee

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Modern Debt Jubilee

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In the wake of the financial crash a proposed solution is the "Modern Debt Jubilee" championed by, among others, economist Steve Keen. It is essentially “quantitative easing for the public” i.e. giving the money to the public and businesses (instead of the banks which got us into the mess) with the proviso that they must first pay off any debts before spending in an effort to restart economic growth. No solution is perfect or pain free but this is one that needs to be debated.

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