[NEW] Six Myths of Payday Lending [JustSouth Quartlery, Spring 2014]
By Alex Mikulich, Ph.D.
In Shakespeare's Hamlet, Polonius instructs his son Laertes: "Neither a borrower nor lender be, for loan oft loses both itself and friend, and borrowing dulls the edge of husbandry." The wisdom in Shakespeare's time was that too often one would lose both money and friend through borrowing or lending. Even worse, borrowing or lending would dull one's ability to make a living (husbandry). Ultimately, Polonius instructs his son: "To thy own self be true."
Shakespeare's wisdom endures in the case of predatory lending. Although payday lenders advertise as if they were friends in your moment of need, payday loans throw most borrowers into a cycle of debt, dulling their ability to make a living.
The payday loan industry thrives upon a web of myths. MORE>>
An Introduction to Race, Racism, and Whiteness
By Dr. Alex Mikulich
Over 100 years ago, in his introduction to The Souls of Black Folk, W.E. B. Du Bois wrote: “the problem of the Twentieth Century is the problem of the color-line.” Despite claims that we live in a “post-racial” society after the historic election of Barack Obama, the fact remains that the color line and racial hierarchy endures in the 21st century. At issue for the Jesuit Social Research Institute, from the perspective of Roman Catholic social teaching and thought, is the persistence of disproportionate advantage for white Americans in relationship to pervasive and persistent disproportionate disadvantage for people of color in every sphere of life including health, wealth, income, education, housing, and the criminal justice system. More than one issue among others, the contradiction between Gospel values and practices of racial inequality is scandalous. The contradiction between Roman Catholic and American claims for universal human dignity and equality, and the reality of social, political, and economic advantage that white Americans consciously and unconsciously accept and assume, betrays this scandal. This article continues here.
2013-14 Articles on Racism:
Martin Luther King, Jr.: Becoming Maladjusted for the Beloved Community-- Mikulich
Marching for Racial Justice in Contemplation and Protest-- Mikulich
The Gift of W.E.B. Du Bois and Double-Consciousness--Mikulich
ARCHIVED ARTICLES ON RACISM:
Thomas Merton’s “Letters to a White Liberal”--Mikulich
A Victory for Democracy: Americans repudiate voter suppression, racism--Mikulich
Race and the 2012 Presidential Election--Mikulich
The Real Fraud in “Voter Fraud”: How so-called reform laws aim to disenfranchise voters -- Mikulich
The Payday Shark in Your Bank Account -- Mikulich
Changing the Script: A Starting Point for Reducing Gun Violence--Mikulich
Stop Casting Stones: The Failure of Punitive Crime Policy--Mikulich
No Relief in Sight: Persistent High Unemployment for African Americans and Latinos in Gulf South States -- Mikulich
View all Racism articles »