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eBook details

Title: Subprime Lending and Social Justice: A Biblical Perspective (Critical Essay)
Author : Journal of Markets & Morality
Release Date : January 22, 2008
Genre: Business & Personal Finance,Books,
Pages : * pages
Size : 264 KB

Description

Introduction As people accumulate debt, the resulting debt-dependent lifestyles raise concerns about social justice. The poor confront high interest rates and unscrupulous lending practices that threaten the continued ownership of the modest assets they are able to accumulate. For those of the middle class, credit enables high-debt lifestyles that ultimately are unfulfilling. Even the wealthy frequently borrow to consume beyond a year's current income. However, it is the poor who are of special interest as we consider the social justice of credit markets. The subprime markets that serve less creditworthy customers can be important instruments, for good or for ill, to the poor.