tag:blogger.com,1999:blog-6964043041305062161.post2380937167862141602..comments2023-09-30T02:09:20.015-07:00Comments on EconThoughts.com: Cowen on PaternalismTrevor Fhttp://www.blogger.com/profile/11025161568219184947noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6964043041305062161.post-43968729792378577552010-07-28T10:45:38.190-07:002010-07-28T10:45:38.190-07:00its funny, I don't even oppose usury laws - wh...its funny, I don't even oppose usury laws - while I understand the potential need for a payday loan, I think it probably does more harm to people than it helps. But it's a paternalism case - we allow all sorts of worse stuff (smoking, for one), so where do we draw the line?Trevor Fhttp://www.econthoughts.comnoreply@blogger.comtag:blogger.com,1999:blog-6964043041305062161.post-66310026905670833472010-07-27T15:19:44.719-07:002010-07-27T15:19:44.719-07:00The alleged problem is that there are institutions...The alleged problem is that there are institutions that specialize in extending small loans to under-banked/relatively poor individuals who would have few other choices in getting that liquidity. These loans are usually unsecured, or poorly secured, and as such the interest rates can be pretty damn high.<br /><br />Didn't we give a Nobel Prize to someone for doing just that? (http://en.wikipedia.org/wiki/Grameen_Bank)Anonymousnoreply@blogger.com