Cashless society is not a good solution

Cashless society is not a good solution
On its face, New York City’s new ordinance requiring restaurants and retail outlets to accept cash as an optional form of payment or face stiff fines seems ridiculous. We doubt many people who could afford a fancy restaurant, for instance, do not have a credit card.

But the truth is New York and a few other cities with similar laws have touched on a problem the nation needs to confront as it moves quickly toward a cashless society — poor people are being left behind.

Those cities may have confronted this in a clumsy way but, for the poor and the elderly, there is much more clumsiness in how the digital economy is progressing.

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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.

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Top Ten Things To Know

The debate

Removing ATMs: Why banks are pushing for a cashless society

Why the Use Cash is so resilient

Electronic Payments are not the only option: Cash remains

Cash or Cashless: A short 2021 Assessment

Turning Cashless? The COVID-19 excuse

Cash remains an economic and social Asset

Why Inclusion is not part of the Cashless Society Agenda

"Euro banknotes are here to stay" says Cristine Lagarde

Toward cashless economy: Are cryptocurrencies better than cash?

New York City Cashless Stores must comply with the law