Poverty industry

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The poverty industry refers a wide-range of money-making activities that attract a large part of their business from the poor because they are poor. It could be argued that the following businesses are part of or contribute to the poverty industry: payday loan centers, pawnshops, casinos, liquor stores, tobacco stores, and credit card companies. Illegal ventures such as loansharking or drug-dealing might also be included.

It is often argued that such businesses are unethical even if they are legal. This is not to say that a particular business does not provide a legitimate service (such as credit card companies) or that all businesses of some type should be considered part of the industry. Some practices might also be considered poverty industry symptoms such as secondary mortgage institutions.

Literature

Edited by Michael Hudson, Merchants of Misery, Common Courage Press 1993

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