The Corner

That Credit-Card Bill

Mark (Hemingway), there’s another problem with Ezra Klein’s analysis of the credit-card industry. It doesn’t follow from the fact that it treats good customers better than not-so-good customers that the latter are “effectively subsidiz[ing]” the former. So what’s the evidence that this subsidization is taking place? 

Ramesh Ponnuru is a senior editor for National Review, a columnist for Bloomberg Opinion, a visiting fellow at the American Enterprise Institute, and a senior fellow at the National Review Institute.

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