Jubilee 2000

[Carl Remick]

Has this list ever discussed Jubilee 2000?  J2000 is a movement calling
for the unconditional cancellation of all external debt in the world's
poorest countries by the year 2000.  It was inspired by a provision of
Mosaic Law calling for a "jubilee" every 50 years, entailing the
extinguishment of all debts, freeing of all slaves and restoration of
lands to original owners.  The movement is fully described at this site:
http://www.jubilee2000uk.org/.

I mention this because J2000 was ridiculed in today's Wall Street
Journal in an article, "Anglicans in Africa," by a couple of neocons:
Diane Knippers and Robert Miclean of the Institute on Religion and
Democracy.  I thought this passage was a particularly nifty piece of
sophistry:  "Yet it is doubtful that the proposal would actually help
poor Africans, if one can imagine it being implemented at all.  Debt
relief mainly helps governments, and many African governments spend a
lot for subsidized prestige projects and civil-service salaries that
benefit their own ethnic and political clientele but that do not
generate economic growth.  Unless debt relief is conditioned to prevent
corruption and cronyism, it will bring little help to the poor."
Actually, I give the authors too much credit in calling that sophistry;
their objections make little sense at all.

J2000 sounds like a great idea.  Is there any downside to this proposal?

Carl Remick