Debt jubilee

A debt jubilee is a clearance of debt from public records across a wide sector or a nation. Such a jubilee was proposed as a solution to debt incurred or anticipated during the COVID-19 recession. The American economist Michael Hudson was a proponent of a debt jubilee, writing in a "Washington Post" op-ed that it was an alternative to a depression. Similarly, anthropologist David Graeber pointed to kings' historical use of debt jubilees during regime changes to suggest that a debt jubilee would have been an appropriate response to the 2008 financial crisis.