The Market Does Not Bind Us

NB: This post is part of a debate on the Loan Shark Prevention Act, a bill that would create a federal usury cap. Anne Fleming’s argument against the bill is here.

Emma Caterine–

The central fallacy of the arguments against the Loan Shark Prevention Act, including Professor Fleming’s, is the limitation of regulation to merely attempting to steer the market. I argue here the purpose of regulation should instead be to carry out a democratic vision of how our society, including the economy, functions. The Loan Shark Prevention Act is an ideal start to pushing back against the decades of economic control by a select, mostly white and male, few.

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