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Cash is more appealing than ever in Australia





Australians weren’t just stockpiling toilet paper during the COVID-19 crisis – they have also been hoarding crisp new banknotes.

While consumer spending has fallen after the panic-buying splurge in March, and many retailers are refusing cash payments for hygiene reasons, banknotes have been stashed away in homes and wallets more than ever.

The Reserve Bank of Australia has been meeting spikes in demand for banknotes from commercial banks and their customers, despite reporting last week that use of cash had reduced during the pandemic.

The demand for notes for the year to last Thursday rose by more than nine per cent, going against the trend of the past couple of years.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

The cashless society from an ethical point of view









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