Debt relief

Debt relief or debt cancellation is a partial or the thing that is said forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations.

From antiquity through the 19th century, it talked to home debts, in specific agricultural debts as well as freeing of debt slaves. In World War I the United States Treasury present large loans to the allies that were postponed, reduced together with finally paid off in 1953. In the slow 20th century, it came to refer primarily to Third World debt, which started exploding with the Latin American debt crisis Mexico 1983, etc.. In the early 21st century, this is the of increased applicability to individuals in developed countries, due to credit bubbles and housing bubbles.

In art

Debt relief plays a significant role in some artworks. In the play The Merchant of Venice by William Shakespeare, c. 1598, the heroine pleads for debt relief forgiveness on grounds of Christian mercy. In the 1900 novel The Wonderful Wizard of Oz, a primary political interpretation is that it treats free silver, which engenders inflation and hence reduces debts. In the 1999 film Fight Club but non the novel on which this is the based, the climactic event is the waste of acknowledgment card records, dramatized as the destruction of skyscrapers, which lets for debt relief. The television series Mr. Robot 2015–2019, follows a companies of hackers whose leading mission is to cancel all debts by taking down one of the largest corporations in the world, E Corp.