Wednesday, September 16, 2020

Who Gets Hurt When the World Stops Using Cash - The New York Times

Cash doesn’t have the status it used to.

In fact, some state and local governments are forcing businesses like restaurants and retail shops to continue accepting cash — concerned that cashless businesses effectively discriminate against consumers who do not have bank accounts or credit cards.

New York City will require most stores and restaurants to accept cash as of Nov. 19, joining cities including San Francisco; Berkeley, Calif.; and Philadelphia, all of which mandated acceptance of cash last year. New Jersey required acceptance of cash statewide in 2019, and it has been illegal for businesses to refuse cash in Massachusetts for decades. Many other cities and states are considering similar steps.

via www.nytimes.com

If you wait long enough, eventually big city governments will do something right.

https://rightcoast.typepad.com/rightcoast/2020/09/who-gets-hurt-when-the-world-stops-using-cash-the-new-york-times.html

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Comments

If I understand the English concept of legal tender correctly, it's something a creditor must accept in settlement of a debt. So I assume that if I went into a restaurant and had a meal, then the restaurateur would be obliged to accept my legal tender in payment.

Scotland gets by just fine without a legal tender.

Posted by: dearieme | Sep 16, 2020 1:24:51 PM

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