So we do a global debt jubilee, define baseline global living standards for everybody (in the world? or just in the "rich" nations? but will they still be rich, after this?), and restructure everything around the new reality. A vast amount of capital gets liquidated in the process, and with it the de facto quasi-sovereignty of the global corporations and the super-rich. What happens next? Does the power of capital scramble to reconstitute itself, seeking avenues to sweep up the great bonanza (everyone gets UBI, but everyone's rent goes up by something close to that exact amount)? Do nations reassert their sovereignty? Do they start having wars again (as in, not the US versus Afghanistan, but France versus Germany)?