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Episode 7: Behind Economics and Finance: Prisoners’ Dilemmas and Payday Lenders [Audio]

LSE Review of Books

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Exploring Economic Models and the Rise of Payday Lending

This chapter explores the role of modeling in economics, comparing models to a tube map that guides thought rather than depicting reality. It also addresses the contentious topic of payday lending in the UK, focusing on its rise and the ethical issues related to its high interest rates.

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