WORLD CIVILIZATION

Detailed explanation-1: -Debt forgiveness was also found in Ancient Athens, where in the 6th century BCE, the lawmaker Solon instituted a set of laws called seisachtheia, which canceled all debts and retroactively canceled previous debts that had caused slavery and serfdom, freeing debt slaves and debt serfs.

Detailed explanation-2: -Urukagina, ruler of the city of Lagash around 2400 B.C., decreed a debt amnesty soon after he came to power, releasing people living in debt bondage to go home and even clearing the prisons. In the Sumerian language, this amnesty was termed amargi (“return to mother”), for it restored people to their families.

Detailed explanation-3: -The seisachtheia laws immediately cancelled all outstanding debts, retroactively emancipated all previously enslaved debtors, reinstated all confiscated serf property to the hektemoroi, and forbade the use of personal freedom as collateral in all future debts.

Detailed explanation-4: -More than 3, 800 years after he took power, the ancient Babylonian king Hammurabi is best remembered for the Code of Hammurabi which was inscribed on human-sized stone pillars that he placed in the towns of his realm.