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In most cases, economic transactions are beneficial for both parties. Yes, banks are "earning money with the poorest", but only because banks and literally ever
by oh_sigh 5y ago
In most cases, economic transactions are beneficial for both parties. Yes, banks are "earning money with the poorest", but only because banks and literally every business engage in activities which (ideally) earn them money. Right now, the poor have a choice of using a banks service, or to not use it. The bank could, I guess, not offer services to the poor, but that seems like you're removing choices from the poor, not protecting them. They don't hunt down poor people and make them use their services. Yes, the poor and rich alike have the right to use their money how they see fit. But I'm curious - if I have a pile of $20 bills here in Florida, how exactly do I 'use it how I want' by letting my grandmom in El Salvador buy food at the local grocer?
- la_fayette 5y agoThe homo economicus would search for the cheapest way to do so, thats why they start to use bitcoin and tranfer it to tjeir grandmom...
- oh_sigh 5y agoSure, but when a more cost effective technology comes along, it doesn't mean that it indicates that the old way was a rip off or exploitative, especially when the newer method lacks numerous requirements the government put in place for the old method.