4 ms·

I was not talking about a legal arrangement.

• lmm 10y ago
  The law binds lenders whether they like it or not. Do you think our enforcement of the law is or would be inadequate?
  • JorgeGT 10y ago
    Are you unaware of the existence of loan sharks?
    • lmm 10y ago
      I'm aware of some who are currently in prison, and others who have left the business (which has got a lot more competitive as legal payday lenders have got a lot more efficient). Like burglary or any number of other crimes, we'll probably never be able to eliminate it entirely but it seems to be in massive decline and a pretty poor way to make a living - and one would expect it to be even less common in a world with basic income.