Should you get to exploit people who are desperate?

If they really want $100 right now, and are happy to pay $110 back next week, I don't see offering that to them as exploitative.

Then perhaps you ought to understand underlying motivations rather than seeing everyone 100% logical robots with complete awareness of situation.

Its not the rational and logical who use payday loans with similar interest. Its the single parent families. There's children involved, power threatened to being turned off. There's a car repair needed for they can work. You know, poverty.

And your excuses are just that- rational justification to fuck over poor people trying to make the best of bad answers.

If someone really needs a loan of $100 to keep the power from being turned off, is denying them a loan for $100 in the best interest of the children? I don't think so.

If you don't give them the loan, the power will definitely be turned off. If you give them the loan, they can pay the power bill.

You can't help poor people and make money. Or at least that's very hard.

If a family needs a few bucks to make things go round we should help. But trying to make money helping is likely to be counter productive.

Yes, you need the state to step in. And no when you phrase it as people exploiting the system, it won't help either ;)

If you're not allowed to make money helping poor people, there's very little incentive to do so.

The world didn't grow to the level of abundance that we have today by everybody agreeing to work for each other for free. We grew through voluntary, mutually-beneficial, exchange.

If you need a monetary incentive to help someone who needs it, then you never really cared about actually helping them in the first place

Poor people are in a negative sum game.

Many make less than the required minimum they need to survive in the USA, given things like dying vehicles and rotting residences and rising rent.

So it may cost $900/month to live total, but your fridge died and spoiled food. So its now $1000 cost, and at -$100. So you sell a part of yourself to a check cashing company and go further in debt. But you can eat. Who knows what next week will be like.

Thats being in poverty. Sure we can make excuses that "its for providing loans". Yeah, but they are extracting what little the people in poverty have for a little bit more skin.

And that's absolutely unethical. Well, unless you work in that industry.

Sure, if all players are rational.

Parents feeding their kids aren't.