Debt Jubilees: Moral Hazard vs Fairness
b'In ancient times, at times of general economic distress, such as a crop failure, rulers would \\u201cwipe the slate clean\\u201d and cancel ALL society\\u2019s debts. There were winners and losers, but society as a whole benefitted. Coronavirus has caused debt burdens to explode upwards. Might we see something similar in the modern world?'