Debt forgiveness has been a core economic principle of our Judeo-Christian societies, as well as other cultures, for thousands of years. We studied why it was important to the economy in business schools, in churches, and in synagogues for all our lives. Yet to listen to today’s radicalized Republicans, you would think that the concept was just invented by woke progressives. I can only assume that this is yet another example of the social failure resulting from lack of liberal arts education.
Michael Hudson’s 2018 book “and forgive them their debts” is getting renewed attention now. The page linked here contains a brief cited summary of the biblical history.