June 16, 2017

IT'S A MERCY KILLING:

The death of cash (Melissa Thompson, 6/15/17, Next Web)

Bad news for anyone who loves unhygienic, bacteria-circulating dollar bills: cash is on its way out. But for the rest of us, there is reason to rejoice. Cash costs us a lot of money. A recent study by Tufts showed that consumers lose about $200 billion annually by using cash.

This includes ATM fees, and other losses associated with cash use, like the time and transportation it takes to drive to the bank (which is, since you're wondering, 28 precious minutes per month, per person).

But, the study maintains, "cash derives its value from the information it contains and is a classic information good, which can be replaced by a digital substitute."

Posted by at June 16, 2017 2:40 PM

  

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