Actually, you are wrong. If wealth reverted to the original owners, that would mean that people who made money initially and had the land could get it back. There is no way that could work today. Meanwhile, my many-times-great grandfather was left millions of acres of land by the Indians. Wish that reverted to me now!
More specifically, original ownership of one of the original plots of land within Israel's borders. There was no "wealth redistribution" per se. How many "original owners" do you think could have showed up to claim their chunk of land in the second Jubilee? At best, a claimant would have to prove lineage back to the original owner of said plot, and after several generations of dividing it amongst the heirs, the amount of land someone could legitimately (re)claim would end up as a token amount.
I don't know enough to be either for it or against it, but I know that socialism has certainly failed and (frankly) when I look at America as we approach a truly global economy, I wonder if capitalism might also be a failure. Our workers are trying to compete with Chinese peasants who earn $5 a day and who expect no benefits and who are willing to die at 50 and live alongside polluted rivers. Under a capitalist system, American workers will not succeed against competition like that. We will simply have no jobs and/or no decent standard of living.
At the very least, Distributism is worth a look.
Natures Economy in the Old Testament
God is Creator/Owner of Nature (Gen 1; Ps 50)
Polytheism & Idolatry & Nature Worship were Forbidden (Ex 20:1-5; Deut 4:15-19; 2 Hos 4:12-13; Jer 2:20; Ezk 6:13)
Nature was Made for Man to Rule, Guard & Cultivate (Gen 1:26-28; 2:15; 9:3; Ps 8)
The World is Designed to be Filled with Population (Gen 1:26-28; 9:1)
Animals are to be Cared for (Gen 6; Ex 23:19; Prov 27:23)
Freedom Under the Rule of Law is Assumed (Exodus; Deuteronomy)
The Natural World is to be Farmed & Mined for Human Development (Deut 8:1-20)
Agricultural & Financial Blessing Based on Disciplined Obedience to God (Deut 28; Proverbs)
Private Property is to be Protected by Redemption Rights (Lev 25:23-34; Prov 23:10-11; Deut 23:24-25)
Mosaic Economy Extolled the Virtues of Small Business & International Trade (Proverbs 31:10-31)
Making Wealth Provides Opportunity for Generosity (Prov 31:20)
Diversify Portfolio Portion for your Protection (Eccl 11:2)
Credit Economy & Debt was Frowned upon but Not Illegal (Lev 25:1-22; 35-38; Deut 23:19-23)
Charging Interest was Illegal for Hebrews but not for Aliens (Ex 22:25; Deut 23:19-20)
Aliens Living in the Promised Land are to be Treated Well (Lev 19:34)
Hebrews were Forbidden to Develop Idolatrous Practices of the Multicultural World around them inside the Promised Land (Deut 12:1-4; 2 Kings 17:7-18; )
Oppression was Forbidden (Deut 24:14)
Biblical Wisdom is Better than Riches (Prov 20:15; 23:4-5)
Being Generous to the Poor was not Government Welfare but was Expected of Private Individuals Poor People had to Work (Lev 19:10; 23:22; Isa 58:7-12)
Government Welfare was Frowned upon (Num 11:1-6)
Do not be Partial to the Poor Simply Because they are Poor (Ex 23:3)
Poverty is an Unfortunate Fact of Life (Deut 15:1-11)
Thorns & Thistles Result from Farming as Pollution is also a Natural By-Product of Making Wealth (Gen 3:17-19; Prov 14:4)
The Election of Kings Invites Oppression (1 Sam 8:1-22)
Kings are Subject to the Mosaic Law just as any other Citizen (Deut 17:14-20)
Division of Powers Between King, Priest and Prophet was assumed (2 Sam 12:1-15; 2 Chron 26:16-23)
50 years is an awfully long time to wait to have all the debts paid back! Many, if not most people would have died before receiving the benefits of it.
Very interesting in this context is the story of Boaz, kinsman redeemer in the book of Ruth.
I don’t think so. Those were commands for the Children of Israel, not the Gentile nations. They were specific to a particular people in a particular time.
ON the other hand, we, as Christians, are supposed to be generous to the more unfortunate. As individuals, not as a corporate government.