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in the "free market" student loan situation this would be an unsafe bet on the creditor's behalf.
by ChemicalWarfare 10y ago
in the "free market" student loan situation this would be an unsafe bet on the creditor's behalf.
- mywittyname 10y agoThere's no such thing as "free market" lending because so much of it is tied to legal institutions. For example, is bankruptcy allowed in a free market? Indentured servitude? Seizure of assets? Absent a government, lending is a lose-lose situation. The lender has little recourse to compel the lendee to pay, and the lendee has no protection from the lender.