Credit Cards and the Reverse Robin Hood Fallacy: A Primer

The International Center for Law and Economics (ICLE) recently released a study addressing the “Reverse Robin Hood” fallacy, a belief which holds that credit card rewards function as a transfer of wealth from the poor to the rich. The study highlights the faulty logic present in this line of reasoning, arguing the evidence suggests that the Reverse Robin Hood hypothesis, “should be rejected and that action to address it could be counterproductive.” Read the key takeaways from the study below.