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That’s not what I wrote. Obviously the economy has always been a factor in public policy. My point is that now, it’s the primary factor, overriding things like
by keiferski 2y ago
That’s not what I wrote. Obviously the economy has always been a factor in public policy. My point is that now, it’s the primary factor, overriding things like predatory lending rates that were previously banned by law. The link I shared has a perfect illustration: when a law capping interest rates was under consideration, the stock market took a hit and the bill was promptly forgotten.
Introducing credit card interest caps, or really doing anything to curb credit card use, would almost certainly have a negative effect on consumer spending and is thus a political death sentence for anyone trying to make that happen.