Consolidated Third would be redeemable for national lands; similar to what the Assignat was originally before it became a paper currency The value of these bonds was only one third of the value of the national debt, thus being a form of Debt consolidation. This would represent a repudiation of most of the state's debt, and a bankruptcy of two-thirds of the debt, leading to the euphemism of the remaining being a consolidated third. Consolidated Third The Consolidated Third (French: "le tiers consolidé") is the name given in France to the 1797 repudiation of public debt of which only one third was
What Is the Third Estate? and operated by independent associations, and therefore society would be self-governed. A comprehensive collection of writings on the topic was released under "Pluralist Theory of the State". Modern equivalent theories building upon the ideas within pluralistic state theory are libertarian socialism and free-market anarchism. An example of the former is guild socialism, one of the founders of which is G. D. H. Cole mentioned above. What Is the Third Estate? What Is the Third Estate? () is a political pamphlet written in January 1789, shortly before the outbreak of the French Revolution, by the French thinker and clergyman Abbé Emmanuel