The Spectre of the Cashless Society
By: Chris Knowles
I have just been reading a rather well written article by Tyler Lonergan about the virtues of a cashless society. He is quite in favour of it and points out many of the genuine benefits that would derive from such a society. You can read his article HERE, and perhaps join this important debate yourself.
Above: The Bank of England – The Central Bank of the United Kingdom
In this article I will argue that a cashless society would be a very dangerous development. I will do so be referring to two issues. The first is that it would lead to officially legalised theft. The second is that it would lead to tyranny. I will then make some conclusions on the basis of these issues. But to start off, I will set the scene by doing something unexpected and discussing the virtues of optimism and pessimism. This is an important part of the discussion as you will come to see.