Monday, November 18, 2013

Cashless

Harvard University President Emeritus Larry Summers spoke during a panel discussion on financial crises at the International Monetary Fund (IMF) Jacques Polak Annual Research Conference in Washington, Nov. 8, 2013.

We could also move to a cashless society where all money is electronic. This would make it impossible to hoard cash outside the bank."

Think about the implications here. Here's one that comes to mind: control.