Jubilee 2000, one more time

[Carl Remick]

I'm disappointed but not surprised there has been no reaction on the LBO
list to my Friday posting
on Jubilee 2000, a proposal to cancel all the external debts of the
world's poorest nations by 2000.  I ask for a second (and final) hearing
on this proposal.  This isn't an idee fixe with me, and I don't want to
come across as a crank.  However, I think massive LDC debt relief like
this is a great idea in terms of both substance and politics, viz.:

1.  Substantively, massive debt writeoffs could help stem the global
deflation that is gathering momentum.  I cannot imagine a course of
action that, at the stroke of a pen, could have a more dramatic tonic
effect right now.

2.  Politically, massive debt writeoffs could be the "big idea" that
helps dramatize the Left's agenda.  One of the main things that helped
put Reagan in office was the Laffer Curve -- simple and compelling.
J2000 could do for brotherhood what the L Curve did for greed.

More than anything else, the Left has to redefine the issues.  J2000
could be a very timely way to start that.

Carl Remick