Economist Richard Wolff on Why All Debts Should Periodically Be Forgiven (Video)
The former University of Massachusetts economics professor explains the historical role of credit in helping to preserve communities.In response to a question posed by the nonprofit media portal acTVism regarding the current lending system, Richard Wolff, University of Massachusetts professor emeritus of economics, gives an explanation of the historical roots of credit that may surprise many viewers. Particularly interesting is the concept of “jubilee,” a term mentioned in the Bible, which requires debts to be erased periodically in order to check creditors’ power and keep communities from being torn apart.
To see other clips from this acTVism interview, click here and here.
— Posted by Natasha Hakimi Zapata
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