The Abolition of Cash: America's $660 Billion Burden
| Author | : | |
| Rating | : | 4.75 (709 Votes) |
| Asin | : | 1514705710 |
| Format Type | : | paperback |
| Number of Pages | : | 288 Pages |
| Publish Date | : | 2016-06-06 |
| Language | : | English |
DESCRIPTION:
With his book’s extensive documentation (over 550 footnotes), sharp presentation, and solid reasoning, readers might have a hard time disagreeing. The author recognizes that such a sea change would require a considerable transformation; after all, he reports that cash “still accounts for 40 percent of the nation’s payment transactions.” But Warwick points to the wide acceptance of online payments, debit cards, prepaid cards, and EFT in general as harbingers of a cashless society. An intriguing, balanced study of a future cashless society. In fact, his discussion of Bitcoin’s deficiencies is among the more informed and revealing on the subject. Despite his belief that abolishing cash has “profound advantages,” Warwick is caref
David R. He lives with his wife in Santa Rosa California. . Warwick is an investor and economic researcher who promoted the idea of abolishing cash as early as 1993 in a booklet he wrote for the National Council on Crime and Delinquency, "Reducing Crime by Eliminating Cash." He also wrote a book, “Ending Cash, the Public Benefits of Federal Electronic Currency,” (Quorum Books 1998), as well as in several arti
"An insightful and realistic investigation into the realities of cashlessness" according to Andrea N. Richesin. Highly recommended! This is an insightful and realistic investigation into the realities of cashlessness. While other books piggyback on 'tech-hype' by promoting the imminent decline of cash, Warwick proves, with well-documented research, that the use of cash in America is as robust as ever. More importantly, the author fully explores the true costs and benefits across all aspects of society - especially cash-driven crime and its effect on our lives. He covers all aspects of the issue - technology, government, public attitudes, electronic crime, and why conditions in America are distinctly different than other countries likel. Rachel Landes said He makes the point - thoroughly researched - that society would be far better off without the use of cash. Author Warwick has done a very clear well-written book in analyzing his idea and conviction about abolishing the use of cash. He makes the point - thoroughly researched - that society would be far better off without the use of cash. And he explains why not using it would be a huge saving in dollars, as well as in stemming crime. He is very convincing..
He compiles costs of cash in serious crimes, tax dodging, and inefficiency with administrative outlays to show that “…the overall cost of cash is four to five times the total cost of cybercrime.” He arrives at a cash cost of $660 billion (before he stops counting) which, he points out, is roughly equal to outlays for old-age Social Security, and saddles the average American household by over $6,000 per year. Warwick contends that abolition of cash shouldn’t be feared; but welcomed. He demonstrates statistically that physical cash is far more costly. His book describes the unattended 24/7 ATM as a sort of microcosm of cash crime – a pla