What if we go oen step further. What if there is no ownership to capital. All capital, and debt, is to be owned by the king. And the society becomes the king. This would remove the profit motive. I wonder what happens then.
Perhaps a somewhat simplistic view of the issues, but: Isn't the western common law rooted in the Old Testament (eye for an eye); left brained; forces one into black and white, right or wrong, us vs. them, guilty or not-guility; debtor (commoners) vs creditor (the rulers). So, the other side of that is: New Testsment (forgiveness); right brained; unifying, accepting; economic equality.