4 ms·
The comments at the economist are pretty scary. Even if the poor get high returns by investing the loan...it is not fair for the lender to capitalise on the go
by mynameishere 19y ago
The comments at the economist are pretty scary.
Even if the poor get high returns by investing the loan...it is not fair for the lender to capitalise on the good fortune and/or efforts of the borrower.
Answer to the question: Yes, it is acceptable to profit from the poor. If you disagree, please do not allow them to purchase bread or sell their labor.
- eru 19y agoYes, the comments seldom reach the quality of the articles. Some are downright scary. Perhaps they should restrict comments to people with a subscription? That should swing the ideologic balance in favor of hardline capitalists. (Disclaimer: I have a dead tree subscription.)
- Retric 19y agoThere is a gap between profit and exploitation. He alleges that it is charging interest rates of over 100% a year, little different from what illegal loan sharks demand, and that it is deliberately making it difficult for poor borrowers to understand how much they are paying for their loans. PS: Compartamos concedes that its rates may seem high—though it reckons they are closer to 70% so it's not like his numbers are pulled from thin air.