Wisdom on payday lending from Oregon’s Cascade Institute

This piece in Oregon’s Stateman Journal on poverty is a must read.  Author Bina Patel examines the issue of wealth creation and the relationship between government policy and poverty. Money quote: 

Closing payday lending businesses, intended to protect the poor from entrapment in cycles of debt, eliminates their last possible form of available credit, leaving many struggling to handle unexpected crises.

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