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We must halt the relentless march to a cashless society.





We must halt the relentless march to a cashless society.
Jack Welch, the US business executive, once famously said that "cash is king". Yet his words now sound increasingly outdated. Cash no longer reigns supreme but has been kicked off the throne by virtual commerce. We are living through an online revolution, one that could eventually mean the disappearance of notes and coins.

In 2017 debit card payments, fuelled by contactless technology, overtook cash payments in Britain for the first time. Several transport providers, retailers and even restaurants now refuse cash. To its starry-eyed enthusiasts, the advent of the cashless society represents an exciting new world of speed and convenience.
  But that is just a delusion.
In reality, the demise of traditional money will make life more expensive, undermine our essential consumer rights, and erode our independence by putting us at the mercy of corporate giants.

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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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The debate

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Education: how will we teach the value of money without cash?

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A cashless economy to root out theft and petty crime?

A cashless economy as a bulwark against fraud and tax evasion?

Does a cashless economy really boost economic growth for all?

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Why commercial banks are lobbying in favor of a cashless economy