The purpose of “a modern debt jubilee” is forgiveness/expiation of debt. It is therefore reflective of the concept of Grace as in the free gift of salvation and the forgiveness of sin which separates one from God/Balance, Equilibrium and Flow. Now of course I’m NOT advocating for any particular religion here, I’m a thoroughgoing agnostic because it is the only truly open minded intellectual perspective, but simply that philosophically the idea of a debt jubilee is indeed reflective of the concept of Grace. If one studies the major threads of economic and monetary reform it becomes apparent that the underlying thrust/policy recommendation of each of them is also reflective of the concept of Grace or an aspect of consciousness itself, for instance the idea of Public Banking (omnipresence/the ever presence of a financial structure stripped of bias and operating only in the interests of the general public or Sovereign Money (benevolent and ethical hierarchy as in the concept of “your sovereign Grace”) or a universal dividend (directness and interpenetrativeness to the individual, abundance as opposed to austerity and generality as in the worthiness of everyone simply because they are human/self aware). There are many other examples. The concept of Grace is the basis for the new economic and monetary philosophy you have said is necessary.