14 October 2011

Land & money

The laws of sheviit and shemitta together comprehend the two dimensions of resource curse: land and money. 
The reason why the laws of land is called sheviit while the laws of money is called shemitta is because land is made by God whereas money is made by people. 
The suspension of property rights regarding the land does not require the same sort of release by the putative property owner that a similar suspension of property rights would invovle when it is with respect to money-creation in the form of the extension of credit. 

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