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If they don’t like the interest rates, they’re free not to take out a loan. They’re strictly better off in the sense that they now have an option they didn’t ha

by egdod 7y ago

If they don’t like the interest rates, they’re free not to take out a loan. They’re strictly better off in the sense that they now have an option they didn’t have before, and they can choose whether or not to exercise the option.

duxup 7y ago
If it is a dead an option... that's not better. It's just a bad option. The impact of having folks in a debt cycle is obviously bad.
- egdod 7y ago
  The point is they’re not worse off for the existence of an option that they can choose not to exercise.
  - duxup 7y ago
    They are if they choose it, and even if they don't friends and family choosing it they could be worse off... People in a debit cycle don't only impact themselves. Like I said Usury Laws exist for reasons.
    - egdod 7y ago
      Yes, paternalism is a reason. It’s just not a very good reason.
      - duxup 7y ago
        It's not paternalism, it's good economic policy to avoid letting whole groups of people fall into such situations that easily.
        egdod 7y ago
        ... because you know better than they do what’s good for them. That’s definitional paternalism.