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The Jubilee Year was a Mosaic law that applied to real estate that was owned by families of the conquering tribes under Joshua. The property belonged to those families permanently. The Jubilee Year was to restore original ownership. "In the year of this jubile ye shall return every man unto his possession" (Lev. 25:13). It applied only to rural land, not to cities (Lev. 25:29- 31). It also applied to the Levites, who had no inheritance in unwalled rural land (Lev. 25:33-34). The judicial basis of this transfer of land was genocide (Deut. 7:16). The Jubilee Year was fulfilled by Jesus, as He declared in Luke 4:18-21. He annulled it. It is gone forever. If the jubilee law is still in force, despite the end of the Old Covenant order, then slavery has a biblical sanction. It was in Leviticus 25, in the jubilee passage, that God established the right of inter-generational slavery (Lev. 25:44-46). The Jubilee law never had any authority outside the holy land, which came to Israel because of genocide. I am sure that you do not want to revive the principle of inheritance through genocide. You do not want to revive inter-generational slavery. Why, then, do you appeal to Leviticus 25 as somehow authorizing worldwide debt repudiation by Third World countries, and the necessary loss by taxpayers?
- Gary North, Why Do You Invoke the Jubilee Year Law, When That Law Rested on Israel's Genocide of Canaan?, at http://www.garynorth.com/public/592.cfm.