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Seeing Woods's law play out is always amusing. "Whenever the private sector introduces an innovation that makes the poor better off than they would have been w
by jakehow 18y ago
Seeing Woods's law play out is always amusing.
"Whenever the private sector introduces an innovation that makes the poor better off than they would have been without it, or that offers benefits or terms that no one else is prepared to offer them, someone—in the name of helping the poor—will call for curbing or abolishing it."
http://en.wikipedia.org/wiki/Thomas_Woods#Woods.27s_Law http://en.wikipedia.org/wiki/Thomas_Woods#Woods.27s_Law
- ahoyhere 18y agoWhere's your proof that it makes the poor better off? There's lots of research, on the other hand, that because the interest rates are so high, people fall very easily into an endless cycle of debt, using Pay Day Loan B to pay off Pay Day Loan A.