Social and Behavioral Sciences Commons^™

Payday Lenders And Credit Cards: A Hidden Driver Of Income Inequality, Aaron Klein

Brookings Scholar Lecture Series

As part of the Brookings Scholar Lecture Series, Brookings Mountain West presents a lecture titled "Payday Lenders and Credit Cards: A Hidden Driver of Income Inequality" by Brookings Fellow in Economic Studies, Aaron Klein. This lecture examines how, for millions of working families, America’s slow payment system costs billions of dollars. The system needs technological innovation, but incumbency, economies of scale, and government may counter technological advancement. This lecture explores if the U.S. remains the dominant global standards setter for payment instruments.