Going Cashless?

May 07, 2013

Fewer and fewer people are regularly carrying cash. Carrying cards seems easier, and paying with plastic leaves a handy electronic record to track where your money goes. But with lots of questions circling about cyber-security and a security breach that compromised more than 5,000 debit/credit card users in the area, isn’t there a huge advantage to paying with cash money? This hour on Focus, we’ll talk about money, currency and what it would be like to live in a world without cash. David Wolman, author of “The End of Money: Counterfeiters, Preachers, Techies, Dreamers – and the Coming Cashless Society” and Professor of Finance Charles Kahn join us. Kahn is a consultant at the Federal Reserve Bank of Chicago and has written about payments economics and identify theft.