> There's this weird claim that payday loans and bad car loans and similar are caused by "greed!" when the companies making them are operating at tiny profit margins. High default rates dictate high prices (which forms a vicious cycle, but that can only be broken from the outside).

You don't need payday loans when your government provides proper social safety nets, and labor regulations that allow you to earn a living wage.

Payday loans are simply a symptom of the problem.