Episode 184: Reevaluating Regulations
Words & Numbers
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The History of the Loan Shark Industry
The loan sharking, late breaking industry in the United States was about twice the size of the entire payday loan market today. In 1968, Richard Nixon pledged as part of his Republican platform to go to war with the loan sharks. The best way to help consumers is to make markets work better for them rather than thinking that by posing price controls on consumers we're automatically going to make them better off.
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