Hudson's claim is that the rulers of antiquity knew this - and that we forgot it. Jubilee was key to producing long term political stability. Take away Jubilee and civilizations collapse:
https://pluralistic.net/2022/07/08/jubilant/#construire-des-passerelles
Debts that can't be paid won't be paid. Debt collectors know this. It's irrefutable.
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The point of debt markets isn't to ensure that debts are discharged - it's to ensure that every penny the hereditary debtor class has is transferred to the creditor class, at the hands of their fellow debtors.
In her 2021 *Paris Review* article "America's Dead Souls," #MollyMcGhee gives a haunting, wrenching account of the debts her parents incurred and the harassment they endured:
https://www.theparisreview.org/blog/2021/05/17/americas-dead-souls/
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After I published on it, many readers wrote in disbelief, insisting that the debt collection practices McGhee described were illegal:
https://pluralistic.net/2021/05/19/zombie-debt/#damnation
And they are illegal. But debt collection is a trade founded on lawlessness, and its core competence is to identify and target people who can't invoke the law in their own defense.
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