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Problematic Policy

While Bernie Sanders and Elizabeth Warren may have promised to forgive the debt students have racked up, and provide them with free education, their plan is just as impractical much as Solon’s was. Sanders and Warren have gained support and popularity as they advocate for student loan forgiveness. It seems as though initially this policyContinue reading “Problematic Policy”

Solon vs. Sanders: Relieving Debt

A hot topic for this year’s election with the Democratic presidential candidates is centered on the idea of forgiving student debt. In comparison to Solon and his set of laws, the Seisachtheia, there can be similarities found in terms of management of debt and equality for the general population, but there are some differences thatContinue reading “Solon vs. Sanders: Relieving Debt”

Modern Seisachtheia? — Not Likely

Over the last decade, the cost of higher education in the United States has increased by over twenty five percent, and the outstanding debt from student loans surpassed $1.5 trillion in early 2018.  The outstanding debt isn’t an issue exclusive to young Americans, but is felt across all ages groups, most notably, the 35-49 yearContinue reading “Modern Seisachtheia? — Not Likely”

Seisachtheia for Students

            An ancient Athenian reformer named Solon instituted a series of reforms known as Seisachtheia, translated to “shaking off the burdens.” Originally, anyone who could not repay their debts had to forfeit their land and become a serf. They became serfs and had to give a majority of their produce to the creditors. The cultureContinue reading “Seisachtheia for Students”

Student Debt Forgiveness

Multiple democratic front-runners in the 2020 presidential election have included propositions to forgive student loans to some extent as a part of their platform. The idea that debt can be forgiven is very similar to Solon’s seisachtheia in which he wiped the debt for poor Athenians. All college students and recent graduates would be overjoyedContinue reading “Student Debt Forgiveness”

Debt Mythology

The idea of debt cancellation has become prominent in recent times, particularly with Democratic leaders Bernie Sanders and Elizabeth Warren. However, history shows us that this idea is not unique to the modern day. Modern times resemble ancient Athens through the effort of political leaders such as Warren, Sanders, and Solon to gain support throughContinue reading “Debt Mythology”

Forgiveness of Loans: A Wise Decision?

In today’s age, we do not necessarily have “debt slaves” that must work for another in order to pay off accumulated debts; instead, we have loans that must be paid off over the course of a long period of time. This is especially apparent with college students; college tuition costs an exorbitant amount of money,Continue reading “Forgiveness of Loans: A Wise Decision?”

Debt “Relief”

Although over two millennia apart, the political tactics of democratic presidential candidate front-runners Elizabeth Warren and Bernie Sanders mirror those of Solon in ancient Greece. In both instances, however, the seemingly beneficial act of debt forgiveness among their people could end up hindering its recipients more than it helps.  In the case of Solon’s riseContinue reading “Debt “Relief””