Debt forgiveness here really involves a whole-scale transformation about how we relate to ourselves, each other, and the world around us. Honoring our debt to nature means that we recognize our pursuit of happiness depends upon our physical sustenance. This will require comprehensive education, re-grounding in natural experience, and recommitment to simple living to pay down the massive debt of ignorant living to which we have grown accustomed.

It will call for an evolution of ideas of the good life that move from physical manufacturing, use, and exploitation of the material world, to one where the material world provides only the bare support needed to explore, expand, and develop our increasingly non-material opportunities and aspirations. I personally find this a heartening and exciting direction, but many are likely to view it as a step down. This will be one of the most important global conversations in the next century.

Conclusion:

One of the greatest barriers to enacting alternatives is getting over the false idea that debt is some kind of either natural phenomenon or moral law. Debt is not natural; it is created by humans and can be erased by humans. There is nothing moral about a nation running up its children’s national credit card to the tune of 15 trillion dollars (with another 100 trillion+ in federal entitlements) and expecting the next generation to pay it. Nor is it morally reasonable to expect individual people, who have worked hard and followed the economic rules, to suffer with life-long debt servitude for mid-game changes in the rules and shifts in the global context.

In point of fact, our current “sea” of international debt is merely a very large man-made lake, damned up by ignorance, greed, and exploitation. The only healthy way to manage current debt is to drain this lake completely through debt forgiveness. It is time to take down the dam and let democratic prosperity flow. True, people will not get their individual material dreams and hopes of unlimited riches fulfilled, but they will take important steps toward preventing a war of humanity against itself, and they will be able to engage new opportunities and definitions of the good life involving working together creatively to build a better, more just world.

Instead of the old dream where we impose static past fantasies on a dynamic future, we can embrace a new dream where we create, explore, express, unfold, and reinvent who we are and what we can be through shared, interactive achievement and improvement. The old economic system based on scarcity and false security is thus converted toward new ends—freedom, health, quality of life, creativity, autonomy, and mutuality.

In pursuing this progress in jubilee, we go a long way to clearing out our past entrapments, inequities, and animosities. We also wisely devote our shrinking material resources toward developing a widely shared and exchanged, mostly non-material, experiential and social currency that multiplies in abundance and increases in value the more it is shared.


from this financial commentary.


Also one quote for thought:


Global youth are much interconnected and cooperative.

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