Sunday, May 20, 2018

Unintended consequences

I posted over two years ago about Sweden's progress in becoming a cashless society. I can report that project is still on track. It's no longer a surprise to find small shops that take cards these days; I find more and more places that refuse to take cash last all. Some in the government are wondering if things are changing too fast.

The scarcity of cash is causing Sweden's criminals to change their behavior. A recent article in The Atlantic points out that besides fraud and cybercrime being on the rise, so is old-fashioned theft of valuable objects.

Going cashless can certainly help the tax authorities, and it is much more convenient for the seller and buyer alike. But sometimes fixing one problem just causes another...

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