The concept revisited: Biblical Jubilee and modern state insolvency
The biblical Jubilee has been described in the Old Testament (3 Moses 25). It was meant to periodically relief debt in Israel to re-establish a balanced distribution of capital. It is a revolutionary idea in a time where the gap between those who own capital and those who do not gets wider by the day.
In this background paper Adele Webb (Jubilee Australia) and Jürgen Kaiser (Jubilee Germany / erlassjahr.de) translate the old concept of Juiblee to our modern times of "late capaitalism".