I’m trying to remember what it’s called…that new system for electronic payments that the federal government is working on. Anyway, checks are the worst way to

I’m trying to remember what it’s called…that new system for electronic payments that the federal government is working on. Anyway, checks are the worst way to transfer money I can imagine. Giving a stranger the “user and password” to your account. Crazy. Cash dying is something I’m more mixed on. On one hand, I think explicit need to use cash is mostly inconvenient, leaves you with risk of loss and theft, and has the most benefits for illegal and harmful enterprises (e.g., a cash only restaurant avoiding taxes harms the rest of society). On the other hand, cash is a hedge against privacy violations, being able to make transactions for things that are illegal but shouldn’t be, and the fact that credit card companies are allowed to make far more money on each transaction than they have any business making. Also, spending cash helps visualize money. Credit card users don’t see their money leaving their hands which encourages excessive consumption.