2 ms·
pragmatically: if you sow the wind it’s only a matter of time before you reap the whirlwind. It’s counterproductive if sustainability of growth is your aim. Pre
by hprotagonist 8y ago
pragmatically: if you sow the wind it’s only a matter of time before you reap the whirlwind. It’s counterproductive if sustainability of growth is your aim. Predatory behavior will, eventually, blow up in your face. If individual companies do this eventually someone will step on their necks. If nation states do this at scale, eventually the people won’t take it any more.
morally: because it is bad for profit and growth to be the ultimate motive just as soon as it requires you to treat people as things. The economy is a fine servant and a terrible master.
- gowld 8y agoThis is wishful thinking. Predatory lending is bad for consumers, not for businesses.
- hprotagonist 8y ago“bad for consumers” is my moral objection. But people here seem to object to flat moral objections, so i tried to offer a pragmatic CYA reason too.
- NeedMoreTea 8y agoUntil the default rate of bad loans turns into a banking crisis.