[ClearCase_guy]

The Athenian lawgiver Solon also canceled all debts (interpretations of the sources differ and exactly what he did is not always agreed upon). It's pretty drastic and with a complex inter-connected financial system, such an unexpected cancellation of debts would, I think, result in utter chaos.

If you wanted to force a modern society toward communal ownership of all goods and services, this would be the way -- just make it impossible to figure out who the "real" owners are. Then we'd have no choice but to fall back on "From each according to his ability, to each according to his need".

[Buchal]

But what if it weren’t Jubilee, but a declaration that CDOs and other derivatives were unlawful gambling contracts which the courts would not soil themselves by enforcing?

[DeaconBenjamin]

If you wanted to force a modern society toward communal ownership of all goods and services, this would be the way -- just make it impossible to figure out who the "real" owners are. Then we'd have no choice but to fall back on "From each according to his ability, to each according to his need".

I figured we would fall back on "Possession is [99.99 percent] of the law."