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Phil 235.docx - Phil 230 I chose to talk about the payday...

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Phil 230 3/22/2016 I chose to talk about the payday loan system that we have in the United States. My reasoning for choosing this subject was due to the fact I found it very intriguing since I have never had of these payday loans. First we will look at payday loans through two extremes, the neoclassical and the neo-Marxian view. Let us begin with the Neoclassical extreme, they believe that payday loans do not exploit the recipients of the payday loan. They say the loans are consensual and are taken place within a free competitive market. They do believe thought that the payday loans have harsh terms which are the high interest and fees which reflect true cost of loans. In addition, they say there ignore the vast inequalities in wealth and conditions that pressure poor to take loans. For the neo-Marxian view the payday loans do exploit the recipients. They say that asset inequality gives those with money power over those who without money. They also believe that believe that wage laborers are exploited for profit by alienation
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