Thursday, February 22, 2007

Biblical Economic Principles, although adding stability, stifled incentives and hindered occupational freedom.

OK. I said it. This has been on my mind since I discovered the Jubilee principle a couple of years ago. But it doesn't stop at the debt forgiveness and freeing of slaves every fifty years. Jubilee also features the return of land to its original owners. Thus legally land cannot be sold, only its harvests purchased for a set period of time. There are many other principles included in a proper examination of Biblical economics, but we'll just consider Jubilee. If one needed funding and was close to the 50 year celebration, you would have been limited to the sale of X < years to jubilee of crop revenue. Keep in mind that in an agrarian society, (which all societies were not that long ago), land control was occupational control. If Grandpa was a grain farmer, your options to have a fine vineyard were limited.