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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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.
Read more
Lack of privacy, economic calamity: the threats of a digital dollar
