Payday cash advances -- what is the alternative?

The payday loan industry has become the favorite whipping boy of the anti-capitalist lobby (how anachronistic!). The lend to the poorer people at higher rates, goes the complaint against the industry. Sure, most payday advance lenders are from the lower strata or those with bad credit scores. But that is because they don't get loan as easily from the banks. Sure, the industry charges higher rates. But that is because the lenders are exposed to higher risks lending to those with bad credit histories.
Ok, what if the payday loan industry closed shop today? Simple, the poor and those with bad credit histories won't even get loans. No banks will loan them cash. The consumer advocates who are crying for them will not loan them money. Not even for higher interest rates.
Now you decide whether the payday loan industry is doing good work or not!