The Economics and Ethics of Moneylending

Until the morality of moneylending is understood and embraced, economic arguments in defense of the practice will carry little weight.

In connection with Yaron Brook’s essay “The Morality of Moneylending,” Edward Glaeser’s NY Sun op-ed “Vilifying Lenders” is a hopeful sign. Glaeser makes some good points:

Not so long ago, banks were routinely vilified for not lending to the less fortunate. Over the past 15 years, a revolution in credit has made it possible for millions of less wealthy A…