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The only time it makes sense to charge super high interest is if you expect lots of customers will default. That means you already know your business will end
by saint_fiasco 7y ago
The only time it makes sense to charge super high interest is if you expect lots of customers will default.
That means you already know your business will end up causing lots of people to be in debt forever. If you choose to go ahead anyway, obviously people are going to think you are evil.
- DuskStar 7y agoIt also means that many people think that your loan is worth risking beimg forever in debt for. If I offer you a loan and you need the money to pay for medicine for your child... Is that really a trade that no one would welcome with open arms?
- vertex-four 7y agoGenerally speaking most reasonable people think basic healthcare should not put people in life-changing debt. They view any entity which puts people in such debt with serious suspicion, as being a clear part of that system.
- DuskStar 7y agoThat's nice. But while places like Sweden or the US have the per-capita GDP to pay for universal health care, Kenya really doesn't. (The US has 40x the GDP per capita) So would you rather that there wasn't even the option to go into life-changing debt, and instead death was the only outcome?