The Economy of the Jubilee
by Daniel R. Gregg
Posted originally at http://www.torahtimes.org/
This piece is excerpted from The Scroll of Biblical Chronology and Prophecy, by Daniel Gregg. Whilst I cannot comment on Mr Gregg’s historical veracity, the correlations between the concept of the ancient Israelite Jubilee and the much more contemporary Kondratieff Wave are nothing short of extraordinary. If Mr Gregg has struck gold here in his historical research, the implications are almost beyond words. It would prove well beyond any reasonable doubt that economic cycles are natural organic rhythms, rooted in the Universe itself, and that man manipulates such rhythms at his extreme peril. This is an extraordinary document, and should be read by anyone who has the slightest interest in furthering his or her understanding of economic cycles, and the human role in the greater economic sphere. Before reading, it would be helpful to have some prior knowledge of Nikolai Kondratieff’s life and work, which can be found here at Quantum Pranx. Further reading can be found at kondratieffwinter.com, an excellent resource by Peter Baxter, whose experience and insights are invaluable to anyone desiring a deeper knowledge of very long-run macroeconomic and price cycles. I am indebted to Peter Baxter, who first alerted me to the work of Daniel Gregg. –Aurick
Note: The numbers in red are linked to the footnote section found right at the end of the document, so it will be necessary to use the link at bottom of this section to continue to the footnotes.
THE JUBILEE PERIOD IS THE LONGEST TIME CYCLE IN THE ECONOMY OF ANCIENT ISRAEL. This cycle regulated land use and inheritances. Landowners would inherit land permanently.398 Furthermore, they could not sell the land to anyone else. Ownership had to be perpetual. The government could not take the land away or encumber it by any method. However, the owner could rent the land, and the maximum rental period was until the next Jubilee, which came every 49 years. In the 50th year, the land was returned to the owning family free of any legal encumbrances like taxes or debts, and the family was required to return to the land, after which, if they wished, they could rent it for another term of 49 years.399 This system was based on the idea that God was the ultimate sovereign owner of the land, and the Israelites were only viceroys or caretakers obligated to maintain the land free and clear of competing sovereign interests.
The Jubilee was a form of socio-economic engineering. It prevented generational poverty, and made the establishment of large monopolies impossible. A man who was desperate for money might rent his land for the 49-year term, but his sons would get it back in the Jubilee. Nothing could be allowed to prevent the land from returning to its sovereign family owners — neither taxes nor debt. The land was returned free and clear. Nor could anyone owe any debts at the time of the return as these were all forgiven in the 49th year. The institution of the Jubilee corresponds to the occurrence of natural economic cycles. These natural economic fluctuations were “known by the ancient Israelites, identified by the Mayas of Central America centuries ago, and rediscovered in the 1920s by economist Nikolai Kondratieff of Russia.”400
Economists call this natural cycle the Kondratieff Wave. It lasts on average about 54 years, just over the length of the biblical Jubilee cycle of 49 years. This natural socioeconomic cycle “in the history of agricultural prices goes as far back as the year 1260 … and there is some evidence of a 50-year cycle of war and inflation in the Roman Empire”401 The Kondratieff Wave is a long economic cycle of boom followed by depression and then back to boom again. It is the longest “business cycle” or repetition of expansion and contraction caused by credit excesses and monopolies.
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Written by aurick
30/12/2010 at 12:28 am
Posted in Ancient History, Banking, Big Government, Corporatocracy, Esoteric, Feckless spending, Financial, Food and Health, Gold, High strangeness, Higher Consciousness, Invasive government control, Moral turpitude, New Paradigm, Peak Oil, Political, Radical Politics, Social, Social & Cultural
Tagged with currency debasement, debt, depression, economic collapse, economic crisis, Financial Meltdown, God as ultimate sovereign owner, Gold, Great Depression, hyperinflation, hyperinflationary depression, Israelite Jubilee, John Maynard Keynes, Jubilee, Kondratieff, Kondratieff Wave, Kondratieff Winter, Messianic, natural socioeconomic cycle, Nikolai Kondratieff, Robert Prechter, septennial debt forgiveness, Supercycle, Torah