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Why Cashless Economy is not such a good idea





The more we hear about a cashless society, I wonder if anyone is really thinking of what this really means?

A cashless society mean no cash Zero! It does not mean mostly cashless, and you can still use a "wee bit of cash here and there."

Cashless means fully digital, fully traceable, fully controlled. I think those who support a cashless society are not aware of what they are asking for. A cashless society means if you are struggling with your mortgage on a particular month, you cannot do an odd job to get you through. Your child cannot go and help the local farmer to earn a bit of summer cash, No more cash slipped into the hands of a child as a good luck charm or from their grandparents when going on vacation, no more money in birthday cards.

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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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The debate

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No cash, no freedom, for better or for worse, an Australian example