April 29, 2014
DADDY. WHAT WAS MONEY?:
Fighting Crime by Going Cashless (Cass R. Sunstein, 4/29/14, Bloomberg View)
Since the early 1990s, crime rates have generally been falling in the U.S. In particular, there has been a big drop in the incidence of robbery, burglary and larceny. How come?New research suggests an unexpected factor. In the 1990s, the national government started requiring states to deliver welfare benefits through the new Electronic Benefit Transfer system instead of paper checks. EBT allowed beneficiaries to get their money via debit cards -- meaning a big reduction of cash on the street and, as a result, significantly lower crime rates.
Posted by Orrin Judd at April 29, 2014 7:46 PM