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It really doesn't sound like they're better off based on the interest rates.

Usury Laws and such came about because it is straight up bad to have people fall into these debt cycles.

If they don’t like the interest rates, they’re free not to take out a loan. They’re strictly better off in the sense that they now have an option they didn’t have before, and they can choose whether or not to exercise the option.

If it is a dead an option... that's not better.

It's just a bad option.

The impact of having folks in a debt cycle is obviously bad.

The point is they’re not worse off for the existence of an option that they can choose not to exercise.

They are if they choose it, and even if they don't friends and family choosing it they could be worse off...

People in a debit cycle don't only impact themselves.

Like I said Usury Laws exist for reasons.

Yes, paternalism is a reason. It’s just not a very good reason.

It's not paternalism, it's good economic policy to avoid letting whole groups of people fall into such situations that easily.

... because you know better than they do what’s good for them. That’s definitional paternalism.

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