Skip to main content

Predictions About a Cashless Society are Wrong

A cashless society will not happen despite predictions by economist and journalists.
In the near future some countries could legislate to ban the use of coins and notes. This will be a drastic move. Indeed, people in the United States would argue that it is a protected right in the Constitution if it passed both governmental houses there.
Cashless society
A shop would be stupid to put this sign out
A myth is promulgated throughout the world that Singapore is a cashless society. This certainly isn't true. Ninety per cent of consumers in Singapore prefer to use cash rather than electronic payment. Just why there is a push to get rid of cash is a mystery. One can understand governments wanting to keep all transactions visible - it will stop tax evasion. However, there would be no benefit for people generally to use cards and transfers to buy everything.

Economists and journalists have got the future totally wrong. How could cash be abandoned when it has almost universal appeal? It just will not happen. A government that forced it upon its people would lose office at the next general election, unless it is a dictatorship.

Culture has inertia. Values do not change overnight. Card payments are increasing, but it is like asking an Englishman to give up his fatty fried breakfast - there would be major resistance! Like driverless cars and delivery by drones, it is fairytale stuff.
Society by Ty Buchanan 
 
            Australian Blog   Adventure Australia
ALL BLOG ARTICLES· ──► (BLOG HOME PAGE)
society, economists, journalists, predictions, cashless, money, cash, cards, electronic, payment, articles news politics economics society anthropology historiography history sociology people nations country asia europe africa u.s. south america central Mediterranean eastern western interesting funny technology adventure australia blog australian blog free news sex

Popular posts from this blog

Albert Einstein's Genius Was Due to His Unusual Brain

Albert Einstein wasn't only a genius her was a very odd human being. His brain shows peculiar differences from the norm; it had many more folds than the average person. This gave the brain a greater surface area. It is like using a larger computer to do calculations. Upon his father's death in 1955, Thomas Einstein gave the pathologist permission to preserve the brain of Albert Einstein. It was photographed then dissected into 2,000 ultra-thin slices. The slices and slides of them were later distributed to researchers. The brain had more neurons and glia cells, well outside of the normal range; pariental lobes were unusual in the pattern of ridges and grooves. Einstein only had a brain of average size. The area controlling the tongue and face was larger, as was the region that involves attention and planning. Overall, Einstein's brain was complex. Many people think in words. He said his thinking was like a physical activity. If selection based on "healthy...

Natural History Museum Human Evolution Gallery

 The Human Evolution gallery at Natural History explores the origins of Homo sapiens by tracing our lineage back to when it separated from that of our closest living relatives, the bonobos and chimpanzees. Around 200,000 years ago, Africa was where modern humans developed. They have smaller faces and brow ridges, a chin that is more prominent than that of other ancient humans, and a brain case that is higher and more rounded. Modern human fossils from Israel (around 100,000 years old), Africa (around 195,000 years old), and Australia (around 12,000 years old) are among the casts on display. These fossils demonstrate that typical characteristics of modern humans evolved over time rather than emerging fully formed from Africa. They also suggest that at least two waves of people leaving Africa may have occurred, one about 100,000 years ago and the other about 60,000 years ago. We are all descendants of those who left during that second migration wave outside of Africa. Source: Natural...
  Home-made saucer that flies down the road.