Glossary
Debt cancellation that legitimizes a new king by resolving the conflict between people and nobility.
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Topic brief
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jubilee
Dante's Hell is not just a ladder of sins in this lecture.
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Topic Scope And Freshness
Key Notes
Glossary
Debt cancellation used by monarchs to cement popular support in Jiang's historical model.
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Glossary
Jiang's term for the king's debt-canceling first act, making monarchy legible as economic relief for indebted citizens.
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model
Debt is the mechanism by which oligarchy corrupts itself: nobles turn renters into debtors and then slaves, creating the crisis a king can exploit.
model
The political choice Jiang sees is not democracy versus monarchy but monarchy versus oligarchy, and history suggests desperate people often choose monarchy because kings can cancel debt through a jubilee.
model
Jiang says that when oligarchy hardens, people cry for a king because a king can unite them against oligarchs, cancel debts through jubilee, and redistribute land or wealth toward the people.
Timestamped Evidence
Transcript
"...do is they actually cancel the debt and something called the jubilee."
Transcript
"And that's that's a very common way for kings to cement proper support. So I imagine if Donald Trump were to become king and..."
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"Look, look, I mean, you can make the legitimate argument that the choice isn't between monarchy and democracy, the choice is between monarchy and..."
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"...cancel debt, right? The king, his first act is often a Jubilee, where he cancels the debts of the people. And the other thing..."
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"Okay? so these are the three major forces or factions in a society and these three factions are always in conflict and what happens..."
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"a loan and over time this loan becomes a debt and at a certain point you can't pay off the debt so what happens..."
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"...he cleared away their debts this this is what we call jubilee by the way the word is jubilee and this happens a lot..."
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"...moved with us but more quickly. As in the year of Jubilee, the Romans, confronted by great crowds, contrived a plan that let the..."
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Relevant Lectures And Readings
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Dante's Hell is not just a ladder of sins in this lecture.
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