> Payday loans are often the least-worst option, but that doesn't prevent us from creating a better option.
It does. It isn't a realistic assumption that you as a society aren't going to regulate payday loans and at the same time be concerned about the well-being of those in need of them. Nations who care about peoples well being, also restrict access to things that hurt them. Because anything else would be working against that interest.
You do realize that there are any number of ways to have a bad time in the US. Payday loans aren't unique in any regard. It isn't therefor likely that this would be fixed sooner than anything else. The people who need payday loans already suffer from injustice. That payday loans themselves would also be unjust wouldn't be surprising, at all.
Why do you think people who can get fired, evicted, don't have health care or even die giving birth would suddenly be cared for when it comes to affordable credit, especially after legalizing unaffordable credit? Is the government is going to come in an fix this one issue in competition of the companies operating in the market?
To take the example at hand, for many young(ish) people taking time off work to learn electronics wouldn't necessary be a nice experience. Because their lives exist to a large extent in relation to work. They have moved to a new city, because of work. Where the live in a small apartment, to be close to work. They have friends, from work. And they have coffee on their way to work, to talk about work or even to do work.
They couldn't just take time off and have a similar life. By leaving work they would lose a lot of the connection to their de facto lives. It wouldn't be worth living in an expensive city, in a small apartment and have expensive coffee "just" to learn electronics. Increasingly the things in people's lives aren't "neutral". Their small apartments are made for going to work from, not necessarily for doing things in. But you can't necessarily move either without losing context.
On the other hand if you are already established. You have a house, a family, friends outside work and whatever else you need, it isn't necessarily that hard to go down in the basement and learn electronics instead of going to work for six months out of the year. Because your environment is "neutral" and exists whether you go to work short-term or not. A lot of people aren't really established like that though.
It does. It isn't a realistic assumption that you as a society aren't going to regulate payday loans and at the same time be concerned about the well-being of those in need of them. Nations who care about peoples well being, also restrict access to things that hurt them. Because anything else would be working against that interest.
You do realize that there are any number of ways to have a bad time in the US. Payday loans aren't unique in any regard. It isn't therefor likely that this would be fixed sooner than anything else. The people who need payday loans already suffer from injustice. That payday loans themselves would also be unjust wouldn't be surprising, at all.
Why do you think people who can get fired, evicted, don't have health care or even die giving birth would suddenly be cared for when it comes to affordable credit, especially after legalizing unaffordable credit? Is the government is going to come in an fix this one issue in competition of the companies operating in the market?