The idea of having more than one chance is very appealing. Does it stand up logically, though?
If we have been at this for quite some time now, shouldn't we be beginning to see some progress? Although we've made great strides materially, we arguably don't seem to be getting closer to the society of enlightened masters you'd hope for at this stage?
Also, if there were a higher consciousness, shouldn't a good deal of us have escaped to it by now?
Karma is about justice. Grace is about forgiveness. When it comes to our own lives, with our sins and shortcomings, what would you prefer? The justice you deserve, or the undeserved gift of forgiveness?
I'll take my chances with justiceForgiveness is sounding good
The idea that we get many chances to gradually get it right is very appealing. We all get better and more enlightened. We get to enjoy this world again and again, surrounded by people who are also getting better and more enlightened. (Assuming of course, that you are one of the fortunate people enjoying this world.)
It also seems much more fair and really satisfies our sense of justice. We very much understand that bad deeds should be punished, and good deeds should be rewarded. We are extremely disappointed when these things don't happen.
I would submit that the problem with this is that society doesn't seem to be living up to the premise? We do not seem to be gradually getting better and more enlightened. It has been argued (and demonstrated many times in recent history), that the thin veneer of 'civilization' that we wear so proudly is only a few missed meals from being stripped away completely. We're more materially comfortable perhaps, but we simply don't seem to be getting better, in any meaningful way.
Practically, since we seem doomed to keep making the same mistakes, I would submit that forgiveness might be the better paradigm? To punish someone who has wronged you in many cases makes you no better than they are. Forgiving them frees you from any power that they would have held over you. I believe that this works on our physical level in the here and now because it works on the spiritual plane.
So, consider this: Grace. Grace is God's forgiveness for our sins. He said that we are appointed to live once, then comes the judgement. (Sounds harsh.) Then He laid out the rules and the consequences. (Sounds really harsh.) Then He provided Grace. So we can keep doing bad things without punishment? Nope. If we understand forgiveness, apply it in our lives and 'do unto others', we will want to do the good things. Even better, we will want to do good things unselfishly. Not to escape a punishment, not to increase the balance our Karmic account and not so we can feel pride in our 'goodness'. In humbleness, we will attempt to do good (and refrain from doing bad), in appreciation of the undeserved gift of grace that we have received.
Consider everything you've done in your life. Chances are, there are at least a few things you are not proud of. Would you prefer to receive justice, or grace?