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National paternalism comprises
National paternalism consists not merely of providing individuals things they didn’t purchase, but additionally in preventing folks from making decisions that, into the benevolent judgment of superintending bureaucrats, aren’t within their most useful interest. Like moms and dads with young kids, federal federal government admonishes us, “No, no, this is simply not for you personally. ”
Nowhere has government’s concern that is paternalistic bad economic decision-making by low income people been more evident than in terms of unsecured debt. Into the aftermath for the 2008 crisis that is financial Congress passed the Dodd–Frank Wall Street Reform and Consumer Protection Act, which created an agency called the customer Financial Protection Bureau (CFPB). Read More