Regulating the Price of Consumer Credit

1971 ◽  
Vol 35 (4) ◽  
pp. 21-28 ◽  
Author(s):  
John J. Wheatley ◽  
Guy G. Gordon
Keyword(s):  
Consumer Protection ◽  
Low Income ◽  
Free Market ◽  
Consumer Credit ◽  
Market Process ◽  
Protection Devices ◽  
Credit Channels ◽  
The Impact ◽  
Low Income Consumers

Laws to limit the rate of interest or service charges on consumer credit are presented as consumer protection devices on the grounds that credit grantors have an advantage over their customers. Opponents of such laws argue that they impair the free market process, that consumers will have to pay credit costs indirectly (such as through increased prices), and that low-income consumers may be forced out of regular credit channels and into the arms of illegal loan sharks. This article summarizes a study to determine the impact of a credit rate limitation law on businesses and consumers.

A Sisyphean Task

2018 ◽  
pp. 72-92
Author(s):  
Stuart Aveyard ◽  
Paul Corthorn ◽  
Sean O’Connell
Keyword(s):  
Monetary Policy ◽  
Consumer Protection ◽  
Consumer Credit ◽  
Strong Impact ◽  
Cooperative Movement ◽  
Consumer Durable ◽  
Affluent Society ◽  
The Impact

Chapter 3 examines debates about controls on consumer credit from late 1957 to 1964. As in Chapter 2, this chapter provides a fresh appraisal of Labour’s response to the affluent society. The party attempted to outflank the Conservatives on the issue of consumer protection. It embarrassed the Conservatives over their sluggish response to the Molony Committee’s recommendations on hire purchase legislation. The chapter also supports previous analyses that have identified the strong impact of new consumerist groups, particularly the Consumers’ Association and the weakening role of the Cooperative Movement. The issue of credit controls became more contentious. The Radcliffe Committee on monetary policy (1958) highlighted the weaknesses of the system. Of particular concern was the impact of controls on consumer durable industries. They were removed in 1958, but reintroduced, in 1960, following a dangerous rise in consumer indebtedness.

Consumer Credit on the Eve of Affluence

2018 ◽  
pp. 20-47
Author(s):  
Stuart Aveyard ◽  
Paul Corthorn ◽  
Sean O’Connell
Keyword(s):  
Consumer Protection ◽  
Free Market ◽  
Demand Management ◽  
Consumer Credit ◽  
Credit Market ◽  
Balance Of Payments ◽  
Consumer Durables ◽  
Keynesian Theory ◽  
Election Victory

The chapter begins with an examination of debates around consumer protection and hire purchase in the 1930s. It explains the emergence and significance of the Hire Purchase Act, 1938. It explores radical (but thwarted) Labour plans to reshape important sectors of the consumer credit market during the 1940s. The chapter then explains the influence of Keynesian theory and its role in generating new policy on economic demand management. The Conservative election victory of 1951 owed much to the party’s courtship of voters with free market rhetoric, but this government instigated hire purchase controls to improve the balance of payments and combat inflation. Labour dubbed the measures ‘a very vicious piece of class legislation’. This policy created long-standing disagreement between the Treasury and the Board of Trade (and consumer durables manufacturers) about the damage to UK manufacturing. The chapter outlines developments up until the Radcliffe Committee was tasked to examine the issue.

scholarly journals The Good Practice in Marketing Microinsurance Product : Evidence from Indonesia

2017 ◽  
Vol 2 (No. 1 Apr 2017) ◽  
pp. 73-88
Author(s):  
Rofikoh Rokhim ◽  
Ruri Eka Fauziah Nasution ◽  
Melia Retno Astrini
Keyword(s):  
Central Asia ◽  
Consumer Protection ◽  
Low Income ◽  
Market Research ◽  
Good Practice ◽  
Market Potential ◽  
Corporate Values ◽  
Large Market ◽  
Low Income Consumers

The purpose of this study is to investigate the good practice of the microinsurance industry in Indonesia, using a case study of three microinsurance providers, namely Allianz, Prudential, and Asuransi Central Asia (ACA). In addition, this study also aims to analyze the challenges, of the microinsurance industry in Indonesia. Results from this study reveal that despite the large market potential for microinsurance in Indonesia, there are challenges that should be addressed, to boost the growth of the microinsurance industry in Indonesia. To respond to this challenge, attention should be focused on consumer protection, and consumer appeal aspects. From the three microinsurance providers discussed in this study, viable approaches to implement when competing in the microinsurance market in Indonesia, including market research to understand the behavior of low-income consumers, the extensive distribution of partners, consumer education practices, and corporate values that demonstrate the dedication of the company, to serve low-income consumers.

scholarly journals The impacts of the food-feed-fuel competition on Brazilian food supply

2017 ◽  
Vol 15 (2) ◽  
pp. 163-182
Author(s):  
Danilo Rolim Dias de Aguiar ◽  
Gabriella Nunes da Costa
Keyword(s):  
Environmental Impacts ◽  
Food Availability ◽  
Low Income ◽  
Food Supply ◽  
Animal Feed ◽  
Foreign Countries ◽  
Access To Food ◽  
The Impact ◽  
Low Income Consumers

The impact of the so-called "food-feed-fuel competition" on hunger has been a major concern worldwide. In addition, the environmental impacts caused by increases in the production of certain foods have made food supplying even more challenging. As few studies have dealt with this issue in Brazil, this paper aims to evaluate the country's nutritional situation since 1995, focusing on the effects of producing animal feed and biofuels on both the domestic availability of food and the role of Brazil as a food supplier to foreign countries. We estimate the quantity of nutrients produced in the country, compare them with the necessities of Brazilians and estimate the population that could be fed by means of Brazilian exports. The results indicate that despite the food-feed-fuel competition, the supply of food has increased and has been sufficient to nourish all Brazilians plus a number even larger of foreigners. As food availability is adequate, the large number of Brazilians still exposed to undernourishment reflects the limited access to food by low-income consumers. We also conclude that Brazil could contribute even more to feed foreigners if policies were implemented aiming to induce farmers to produce a different sort of products.

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