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Author: Kai A. Olsen Publisher: Rowman & Littlefield ISBN: 1442227435 Category : Business & Economics Languages : en Pages : 166
Book Description
Information technology is changing the world through automation, by bypassing middlemen and by digitization. We see dramatic effects today in the music industry, going from CDs to streaming, in newspapers, from paper to online, and in the banking industry, from branch offices to the Internet. One of the most fundamental changes is the replacement of physical cash, money and coins, by bits in a computer. A Cash-Free Society is about this dramatic change. It shows the advantages and disadvantages and discuss how we – consumers, businesses and the society -can prepare for a new world where cash is no longer king. Banks are closing down branch offices and removing cash services. Customers wishing to withdraw money as cash are directed to ATMs. But the number of ATMs is declining. Mobile payments, either for paying bills or for person to person transactions will be the last nail in the coffin for cash . These changes are fed by the overwhelming advantages, both for consumers and businesses, to electronic payments. In the countries that lead this transition to a digital economy, Iceland, Norway, Sweden and Denmark, nearly all transactions, both in volume and number, are digital. Today less than 3 percent of consumer payments are in cash in Norway. Though there are some disadvantages, there are clear benefits: cheaper transactions, less crime, simpler tax processing and it will become more difficult to operate in the black-market economy.
Author: Kai A. Olsen Publisher: Rowman & Littlefield ISBN: 1442227435 Category : Business & Economics Languages : en Pages : 166
Book Description
Information technology is changing the world through automation, by bypassing middlemen and by digitization. We see dramatic effects today in the music industry, going from CDs to streaming, in newspapers, from paper to online, and in the banking industry, from branch offices to the Internet. One of the most fundamental changes is the replacement of physical cash, money and coins, by bits in a computer. A Cash-Free Society is about this dramatic change. It shows the advantages and disadvantages and discuss how we – consumers, businesses and the society -can prepare for a new world where cash is no longer king. Banks are closing down branch offices and removing cash services. Customers wishing to withdraw money as cash are directed to ATMs. But the number of ATMs is declining. Mobile payments, either for paying bills or for person to person transactions will be the last nail in the coffin for cash . These changes are fed by the overwhelming advantages, both for consumers and businesses, to electronic payments. In the countries that lead this transition to a digital economy, Iceland, Norway, Sweden and Denmark, nearly all transactions, both in volume and number, are digital. Today less than 3 percent of consumer payments are in cash in Norway. Though there are some disadvantages, there are clear benefits: cheaper transactions, less crime, simpler tax processing and it will become more difficult to operate in the black-market economy.
Author: Niklas Arvidsson Publisher: Springer ISBN: 3030106896 Category : Business & Economics Languages : en Pages : 96
Book Description
This open access book tells the story of how Sweden is becoming a virtually cashless society. Its goal is to improve readers’ understanding of what is driving this transition, and of the factors that are fostering and hampering it. In doing so, the book covers the role of central banks, political factors, needs for innovation, and the stakeholders involved in developing a cashless ecosystem. Adopting a historical standpoint, and drawing on a unique dataset, it presents an academic perspective on Sweden’s leading role in this global trend. The global interest in the future of cash payments makes the Swedish case particularly interesting. As a country that is close to becoming a cashless economy, it offers a role model for many other countries to learn from - whether they want to stimulate or reduce the use of cash. This highly topical book will be of interest to politicians, researchers, businesses, financial service providers and payment service providers, as well as fintech start-ups, regulators and other authorities.
Author: IntroBooks Team Publisher: IntroBooks ISBN: Category : Business & Economics Languages : en Pages :
Book Description
A cashless society defines an economic environment in which financial transactions are not performed through money by way of bank currencies or coins, but rather by exchanging digital data (typically an electronic expression of money) between the transacting parties. Cashless societies have had come into being since the time of the evolution of human civilization, based on barter and other trading practices, and cashless transfers have now become viable in modern times, leveraging digital currencies, including bitcoin. However, one tends to explore and focus on the concept of a cashless society in the context of moving towards a society where cash is substituted by its digital counterpart, i.e., legal tender money, which is captured, and only transmitted in digital electronic format. Such a theory has been discussed at length, notably as the world is undergoing a substantial and phenomenal use of digital ways of capturing, controlling, and transacting in trade, investment, and day to day life in several parts all across the globe and transactions that would have traditionally been conducted with cash are now often executed electronically or digitally.
Author: Bernardo Batiz-Lazo Publisher: Springer ISBN: 1137602317 Category : Business & Economics Languages : en Pages : 432
Book Description
This book examines the nature of retail financial transaction infrastructures. Contributions assume a long-term outlook in their exploration of the key financial processes and systems that support a global transition to a cashless economy. The volume offers both modern and historic accounts that demonstrate the constantly changing role of payment instruments. It brings together different theoretical approaches to the study, re-examining and forecasting changes in retail payment systems. Chapters explore a global transition to a cashless society and contemplate future alternatives to cash, cheques and plastic, featuring the perspectives of academics from different disciplines in conversation and industry participants from six continents. Readers are invited to discover the innovation in payment systems and how it co-evolves with changes in society and organisations through personal, corporate and governmental processes.
Author: Philippe Van Parijs Publisher: Harvard University Press ISBN: 0674978099 Category : Business & Economics Languages : en Pages : 395
Book Description
“Powerful as well as highly engaging—a brilliant book.” —Amartya Sen A Times Higher Education Book of the Week It may sound crazy to pay people whether or not they’re working or even looking for work. But the idea of providing an unconditional basic income to everyone, rich or poor, active or inactive, has long been advocated by such major thinkers as Thomas Paine, John Stuart Mill, and John Kenneth Galbraith. Now, with the traditional welfare state creaking under pressure, it has become one of the most widely debated social policy proposals in the world. Basic Income presents the most acute and fullest defense of this radical idea, and makes the case that it is our most realistic hope for addressing economic insecurity and social exclusion. “They have set forth, clearly and comprehensively, what is probably the best case to be made today for this form of economic and social policy.” —Benjamin M. Friedman, New York Review of Books “A rigorous analysis of the many arguments for and against a universal basic income, offering a road map for future researchers.” —Wall Street Journal “What Van Parijs and Vanderborght bring to this topic is a deep understanding, an enduring passion and a disarming optimism.” —Steven Pearlstein, Washington Post
Author: David Wolman Publisher: Da Capo Press ISBN: 0306822695 Category : Business & Economics Languages : en Pages : 240
Book Description
For ages, money has meant little metal disks and rectangular slips of paper. Yet the usefulness of physical money -- to say nothing of its value -- is coming under fire as never before. Intrigued by the distinct possibility that cash will soon disappear, author and Wired contributing editor David Wolman sets out to investigate the future of money...and how it will affect your wallet. Wolman begins his journey by deciding to shun cash for an entire year -- a surprisingly successful experiment (with a couple of notable exceptions). He then ventures forth to find people and technologies that illuminate the road ahead. In Honolulu, he drinks Mai Tais with Bernard von NotHaus, a convicted counterfeiter and alternative-currency evangelist whom government prosecutors have labeled a domestic terrorist. In Tokyo, he sneaks a peek at the latest anti-counterfeiting wizardry, while puzzling over the fact that banknote forgers depend on society's addiction to cash. In a downtrodden Oregon town, he mingles with obsessive coin collectors -- the people who are supposed to love cash the most, yet don't. And in rural Georgia, he examines why some people feel the end of cash is Armageddon's warm-up act. After stops at the Digital Money Forum in London and Iceland's central bank, Wolman flies to Delhi, where he sees first-hand how cash penalizes the poor more than anyone--and how mobile technologies promise to change that. Told with verve and wit, The End of Money explores an aspect of our daily lives so fundamental that we rarely stop to think about it. You'll never look at a dollar bill the same again.
Author: Eswar S. Prasad Publisher: Harvard University Press ISBN: 0674258444 Category : Business & Economics Languages : en Pages : 497
Book Description
A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse. We think weÕve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above all, Prasad foresees the end of physical cash. The driving force wonÕt be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come.
Author: Minouche Shafik Publisher: Princeton University Press ISBN: 069120764X Category : Business & Economics Languages : en Pages : 256
Book Description
From one of the leading policy experts of our time, an urgent rethinking of how we can better support each other to thrive Whether we realize it or not, all of us participate in the social contract every day through mutual obligations among our family, community, place of work, and fellow citizens. Caring for others, paying taxes, and benefiting from public services define the social contract that supports and binds us together as a society. Today, however, our social contract has been broken by changing gender roles, technology, new models of work, aging, and the perils of climate change. Minouche Shafik takes us through stages of life we all experience—raising children, getting educated, falling ill, working, growing old—and shows how a reordering of our societies is possible. Drawing on evidence and examples from around the world, she shows how every country can provide citizens with the basics to have a decent life and be able to contribute to society. But we owe each other more than this. A more generous and inclusive society would also share more risks collectively and ask everyone to contribute for as long as they can so that everyone can fulfill their potential. What We Owe Each Other identifies the key elements of a better social contract that recognizes our interdependencies, supports and invests more in each other, and expects more of individuals in return. Powerful, hopeful, and thought-provoking, What We Owe Each Other provides practical solutions to current challenges and demonstrates how we can build a better society—together.
Author: Frank Pasquale Publisher: Harvard University Press ISBN: 0674967100 Category : Law Languages : en Pages : 320
Book Description
Every day, corporations are connecting the dots about our personal behavior—silently scrutinizing clues left behind by our work habits and Internet use. The data compiled and portraits created are incredibly detailed, to the point of being invasive. But who connects the dots about what firms are doing with this information? The Black Box Society argues that we all need to be able to do so—and to set limits on how big data affects our lives. Hidden algorithms can make (or ruin) reputations, decide the destiny of entrepreneurs, or even devastate an entire economy. Shrouded in secrecy and complexity, decisions at major Silicon Valley and Wall Street firms were long assumed to be neutral and technical. But leaks, whistleblowers, and legal disputes have shed new light on automated judgment. Self-serving and reckless behavior is surprisingly common, and easy to hide in code protected by legal and real secrecy. Even after billions of dollars of fines have been levied, underfunded regulators may have only scratched the surface of this troubling behavior. Frank Pasquale exposes how powerful interests abuse secrecy for profit and explains ways to rein them in. Demanding transparency is only the first step. An intelligible society would assure that key decisions of its most important firms are fair, nondiscriminatory, and open to criticism. Silicon Valley and Wall Street need to accept as much accountability as they impose on others.
Author: Kai A. Olsen
Author: Kai A. Olsen
Author: Niklas Arvidsson
Author: Robert A. Hendrickson
Author: IntroBooks Team
Author: Bernardo Batiz-Lazo
Author: Philippe Van Parijs
Author: David Wolman
Author: Eswar S. Prasad
Author: Minouche Shafik
Author: Frank Pasquale