The cashless society

A news report on the Huffington Post tells us Sweden is close to becoming a cashless society.

The desirability of a cashless society depends upon the color of the hat one is wearing.

If I were a chief of police I would not be too keen on it because  it would make a lot of crime difficult and that would reduce my empire.

If I were a tax collector I would like it because all transactions would be recorded and the underground economy would become taxable.

If I were a dictator I would love it. Just think of the potential for social control where every time a person  participated in a transaction their location would be recorded on a computer.

However, I am just a person interested in the economics of money and banking and I see the cashless society as raising the question of just what is money.

I have tried to look at that question in an essay “LETS go to market:: dealing with the economic crisis” which has been posted on this weblog.


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