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Say No to the “Cashless Future” — and to Cashless Stores | American Civil Liberties Union
"It is great to see this pushback against the supposed cashless future because this is a trend that should very much be nipped in the bud. There are several reasons why cashless stores, and a cashless society more broadly, are a bad idea. Such stores are:

Bad for privacy. When you pay cash, there is no middleman; you pay, you receive goods or services — end of story. When a middleman becomes part of the transaction, that middleman often gets to learn about the transaction — and under our weak privacy laws, has a lot of leeway to use that information as it sees fit. (Cash transactions of more than $10,000 must be reported to the government, however.) More on privacy and payment systems in a follow-up post.

Bad for low-income communities. Participation in a cashless society presumes a level of financial stability and enmeshment in bureaucratic financial systems that many people simply do not possess. Opening a bank account requires an ID, which many poor and elderly people lack, as well as other documents such as a utility bill or other proof of address, which the homeless lack, and which generally create bureaucratic barriers to participating in electronic payment networks. Banks also charge fees that can be significant for people living on the economic margins. According to government data from 2017, about one in 15 U.S. households (6.5%) were “unbanked” (had no checking or savings account), while almost one in five (18.7%) were “underbanked” (had a bank account but resorted to using money orders, check cashing, or payday loans). Finally, because merchants usually pass along the cost of credit card fees to all their customers through their prices, the current credit card system effectively serves to transfer money from poor households to high-income households, according to a study by the Federal Reserve.

Bad for people of color. The burden of lack of access to banking services such as credit cards does not fall equally. While 84% of white people in 2017 were what the Federal Reserve calls “fully banked,” only 52% of Black and 63% of Hispanic people were.
Bad for the undocumented. Facing a lack of official identity documents, not to mention all the other obstacles mentioned above, undocumented immigrants can have an even harder time accessing banking services.

Bad for many merchants. Merchants pay roughly 2-3% of every transaction to the credit card companies, which can be a significant “tax,” especially on low-margin businesses. With the credit card sector dominated by an oligopoly of 2-3 companies, there is not enough competition to keep these “swipe fees” low. Big companies have the leverage to negotiate lower fees, but small merchants are out of luck, and the amount that they pay to the credit card companies is often greater than their profit. If cashless stores are allowed to become widespread, that will harm the many merchants who either discourage or flat-out refuse to accept credit cards due to these fees.

Less resilient. The nationwide outage of electronic cash registers at Target stores several weeks ago left customers unable to make purchases — except those who had cash. That’s a reminder that electronic payments systems can mean centralized points of failure — not just technical failures like Target’s, but also security failures. A cashless society would also leave people more susceptible to economic failure on an individual basis: if a hacker, bureaucratic error, or natural disaster shuts a consumer out of their account, the lack of a cash option would leave them few alternatives.

The issue goes beyond restaurants and retail stores; other services that are built around electronic payments should also offer cash options (or cash-like anonymous stored value cards). Those include ride-share services like Uber and Lyft, bike and scooter share systems, and transit systems. In San Francisco, for example, the city’s bike-share program is providing an option to pay with cash. In DC, where I live, the Metro requires a smart card to use — but riders have the option to either register their card so that they can cancel it if it’s lost or stolen, or buy it with cash and not register it to keep it more private."

...

"What to do

So what should you do if you walk into a store and are told: “your cash is no good here”?

Register your objection. Say to the staff, “I know this isn’t your policy personally, but I think it’s a bad one, and I hope you’ll pass that along to your management. Not accepting cash is bad for privacy, bad for poor people, and bad for the undocumented.”

Refuse to provide a credit card. If you haven’t been given very clear advance notice that cash is not accepted, tell them you don’t have a credit card with you and see what they propose. There’s no law that a person has to possess a credit card or furnish one on demand. This may tie up their line, require the calling of a manger, create abandoned food that has already been prepared, and generally create inefficiencies that, if repeated among enough customers, will start to erode the advantages of going cashless for merchants.

Walk out. If you can do without, leave the establishment without buying anything after registering your objection to a staff person so they are aware they’ve lost your business over it.

Understand why some stores charge fees for credit card use. If you visit a store or restaurant that charges a higher price for credit card purchases, understand that this is a socially beneficial policy and be supportive. Merchants are explicitly permitted to pass swipe fees (also known as “interchange fees”) along to customers, which among other things is fairer to low-income customers who don’t have credit cards and shouldn’t have to absorb the costs of those cards. If you are a business, consider passing along those fees to increase fairness as well as customer awareness of how the current system works.

Contact your elected representatives. We have already seen some cities and states ban cashless stores. Your state or city can do so as well.

The bottom line is that the technocratic “dream” of a cashless society is a vision in which we discard what is left of the anonymity that has characterized urban life since the dawn of modernity, and our freedom from the power of centralized companies like banks. Doing without cash may be convenient at times, but if we lose cash as an option we’re going to regret it later."
money  privacy  technology  privilege  cashless  currency  2019  aclu  inequality  resilience  bias  business  economics  policy  siliconvalley  creditcards  cash  technocracy  technosolutionism 
29 days ago by robertogreco
anton on Twitter: "Things that happen in Silicon Valley and also the Soviet Union: - waiting years to receive a car you ordered, to find that it's of poor workmanship and quality - promises of colonizing the solar system while you toil in drudgery day in,
"Things that happen in Silicon Valley and also the Soviet Union:

- waiting years to receive a car you ordered, to find that it's of poor workmanship and quality

- promises of colonizing the solar system while you toil in drudgery day in, day out

- living five adults to a two room apartment

- being told you are constructing utopia while the system crumbles around you

- 'totally not illegal taxi' taxis by private citizens moonlighting to make ends meet

- everything slaved to the needs of the military-industrial complex

- mandatory workplace political education

- productivity largely falsified to satisfy appearance of sponsoring elites

- deviation from mainstream narrative carries heavy social and political consequences

- networked computers exist but they're really bad

- Henry Kissinger visits sometimes for some reason

- elite power struggles result in massive collateral damage, sometimes purges

- failures are bizarrely upheld as triumphs

- otherwise extremely intelligent people just turning the crank because it's the only way to get ahead

- the plight of the working class is discussed mainly by people who do no work

- the United States as a whole is depicted as evil by default

- the currency most people are talking about is fake and worthless

- the economy is centrally planned, using opaque algorithms not fully understood by their users"
siliconvalley  sovietunion  tesla  uber  lyft  us  2018  antontroynikov  russia  space  utopia  society  propaganda  labor  work  housing  politics  social  elitism  collateraldamage  militaryindustrialcomplex  evil  currency  fake  economics  economy  planning  algorithms  mainstream  computing  henrykissinger 
may 2019 by robertogreco
Cory Doctorow: Things that happen in Silicon Valley and also the...
"Anton Troynikov: [https://twitter.com/atroyn/status/1014974099930714115 ]

• Waiting years to receive a car you ordered, to find that it’s of poor workmanship and quality.
• Promises of colonizing the solar system while you toil in drudgery day in, day out.
• Living five adults to a two room apartment.
• Being told you are constructing utopia while the system crumbles around you.
• ‘Totally not illegal taxi’ taxis by private citizens moonlighting to make ends meet.
• Everything slaved to the needs of the military-industrial complex.
• Mandatory workplace political education.
• Productivity largely falsified to satisfy appearance of sponsoring elites.
• Deviation from mainstream narrative carries heavy social and political consequences.
• Networked computers exist but they’re really bad.
• Henry Kissinger visits sometimes for some reason.
• Elite power struggles result in massive collateral damage, sometimes purges.
• Failures are bizarrely upheld as triumphs.
• Otherwise extremely intelligent people just turning the crank because it’s the only way to get ahead.
• The plight of the working class is discussed mainly by people who do no work.
• The United States as a whole is depicted as evil by default.
• The currency most people are talking about is fake and worthless.
• The economy is centrally planned, using opaque algorithms not fully understood by their users."
ussr  russia  economics  siliconvalley  disruption  politics  indoctrination  centralization  policy  2018  currency  planning  conformity  conformism  drudgery  work  labor  humor  tesla  elonmusk  jeffbezos  wageslavery  failure  henrykissinger  us  government  governance  ideology  experience  class  collateraldamage  elitism  antontroynikov  consequences  space  utopia  workmanship  quality  accountability  productivity  falsification  workplace  colonization 
july 2018 by robertogreco
The New Currency at the End of the World | Motherboard
[Note that this is sponsored by UBS.]

"Given Iceland’s small size, geothermal energy, and technologically literate population, the chances of Auroracoin’s success seem high. Yet, it is not clear what exactly succeeding will achieve. How will it meaningfully undermine governments? Will it redistribute wealth? Or redefine it? Or will it merely be old capital’s new clothes? "
iceland  currency  money  cryptocurrency  2016 
july 2016 by robertogreco
Keep Harriet Tubman – and all women – off the $20 bill - The Washington Post
"The Women on 20s campaign has declared that America needs the face of a woman on its currency and that woman should be abolitionist Harriet Tubman. The campaign petitioned the federal government this week after Tubman won an online poll that featured 15 historic women — including Eleanor Roosevelt, Rosa Parks and Susan B. Anthony — as candidates to replace Andrew Jackson on the $20 bill. As a feminist, I think this campaign is well-intentioned. Women are rarely acknowledged as important contributors to the creation and development of the United States, and Tubman especially is regularly overlooked. I even named her on my own list of candidates, initially. But I was hesitant to support Women on 20s’s goals from the beginning, and now that Tubman has been selected, I’m certain: There’s no place for women – especially women of color – on America’s currency today.

Harriet Tubman dedicated much of her life to subverting the system of forced labor and oppression that built America’s economy. Born Araminta “Minty” Ross, she spent her youth enslaved in Maryland. In one of her first of many acts of defiance, she changed her name to honor her mother, Harriet, after marrying a free black man. In doing so, she created her own identity outside of being a “slave.” Then, after escaping from a plantation to Philadelphia, she made numerous journeys back to the South to help liberate black people from the bondage of American chattel slavery. In a lesser known act of defiance, Tubman served as a spy during the Civil War, alerting the Union Army to slaves who would join its fight if rescued. Her information launched the Combahee Ferry raid that freed hundreds of people. Tubman was one of America’s first female war heroes and is known as the only woman to lead a raid for the Union Army.

On one hand, replacing the face of Andrew Jackson – a man whose wealth was made on the backs of enslaved black people – with Tubman’s image sounds like an idyllic reversal of fortune. But in examining Tubman’s life, it’s clear that putting her face on America’s currency would undermine her legacy. By escaping slavery and helping many others do the same, Tubman became historic for essentially stealing “property.” Her legacy is rooted in resisting the foundation of American capitalism. Tubman didn’t respect America’s economic system, so making her a symbol of it would be insulting.

American capitalism historically has been used to oppress and disenfranchise women and people of color. At various points in our nation’s history, women were forbidden from owning property, married women were forbidden from working, and black women were restricted to jobs as cooks and maids. Even today, economic injustice continues in the form of unequal pay, limiting women’s ability to reach their full economic potential. For every dollar a white man earns from his labor in the United States, white women earn 78 cents, black women earn 64 cents, and Hispanic women earn just 54 cents. This isn’t a result of a lack of effort to rise up. Even with a college degree, black women earn less than white men without one. Single black women have a median net worth of just $100.

America’s currency is viewed as a place to honor people of historic political influence. To suggest that black women are part of that club by putting Tubman’s face on the $20 simply would cover up our nation’s reality of historic and lingering disenfranchisement. Of the 104 women in the House of Representatives, only 18 are black, and only one black woman has sat in the U.S. Senate since the nation was founded. Of the 78 women in executive statewide offices, just one is a black woman. There’s no doubt that black women have a political representation problem in America. But putting the face of an admired black American heroine on currency won’t fix it – it will only mask it.

If having Harriet Tubman’s face on the $20 bill was going to improve women’s access to said bill, I’d be all for it. But instead, it only promises to distort Tubman’s legacy and distract from the economic issues that American women continue to face. While adding representation of women to an area historically dominated by men can be encouraging and boost women’s morale, the symbolism risks masking inequalities that are far more important.

Harriet Tubman did not fight for capitalism, free trade, or competitive markets. She repeatedly put herself in the line of fire to free people who were treated as currency themselves. She risked her life to ensure that enslaved black people would know they were worth more than the blood money that exchanged hands to buy and sell them. I do not believe Tubman, who died impoverished in 1913, would accept the “honor,” were it actually bestowed upon her, of having her face on America’s money. And until the economic injustice against women in America ends, no woman should."
feministajones  harriettubman  2016  history  money  currency  capitalism  freetrade  economics 
may 2016 by robertogreco
Iceland put bankers in jail rather than bailing them out — and it worked - Vox
"Yesterday, Iceland's prime minister, Sigmundur Gunnlaugsson, announced a plan that will essentially close the books on his country's approach to handling the financial crisis — an approach that deviated greatly from the preferences of global financial elites and succeeded quite well. Instead of embracing the orthodoxy of bank bailouts, austerity, and low inflation, Iceland did just the opposite. And even though its economy was hammered by the banking crisis perhaps harder than any other in the world, its labor didn't deteriorate all that much, and it had a great recovery.

How great? Well, compare the evolution of Iceland's unemployment rate with what happened in Ireland, the star pupil of the Very Serious People:

[chart]

Or compare it with the United States:

[chart]

How did Iceland pull it off?

Let the banks go bust

For starters, rather than scrambling to mobilize public resources to make sure banks didn't default on their various obligations, Iceland let the banks go bust. Executives of the country's most important bank were prosecuted as criminals.

Reject austerity

[chart]

Iceland was nonetheless hit by a very serious recession that caused its debt-to-GDP ratio to soar. But even after several years of steady increases, the government didn't panic. It prioritized recovery. And when recovery was underway and the ratio began to fall, the government let it fall gently.

Devalue and accept inflation

[chart]

There's no free lunch in life, and no country recovers from a severe recession without some bad things happening. But while most developed countries have gone through years of grindingly high unemployment paired with super-low inflation, Iceland did the reverse. It let the value of its currency tumble, which naturally brought about higher prices.

But as a result, the country's export industries rapidly gained ground in international markets. Unemployment rose, but maxed out at a modest 7.6 percent before falling steadily to a very low level. In the US and Europe, the priority has been on low inflation to protect the asset values of the wealthy. Iceland prioritized jobs, and it worked.

Impose temporary capital controls

In the context of bank defaults and a plunging currency, the government felt it was necessary to impose an additional measure — capital controls, regulations restricting Icelandic citizens' ability to take their money out of the country. This is a serious violation of free market orthodoxy. More importantly, it can be a major hassle to ordinary people's lives and an impediment to starting new businesses. In some countries, like Argentina, capital controls become a breeding ground of corruption and mischief.

That leads some to believe that no matter how well heterodox policies work economically, they're ultimately doomed to political failure.

Iceland shows that's not the case. Getting policy right is difficult, but it can be done. And the upside to doing the right thing — devaluing the currency massively, then imposing capital controls to contain the fallout, then ending the capital controls once the economy recovers — can be enormous. Iceland has had a rough time over the past seven or eight years, but so have a lot of other countries. Things are looking up there now because the country's leaders had the wisdom to reject elements of the self-satisfied conventional wisdom that have proven so harmful elsewhere."
iceland  banking  greatrecession  austerity  finance  2015  economics  matthewyglesias  unemployment  employment  labor  policy  politics  regulation  capitalcontols  currency  devaluation  inflation 
june 2015 by robertogreco
Keep Harriet Tubman – and all women – off the $20 bill - The Washington Post
"Harriet Tubman dedicated much of her life to subverting the system of forced labor and oppression that built America’s economy. Born Araminta “Minty” Ross, she spent her youth enslaved in Maryland. In one of her first of many acts of defiance, she changed her name to honor her mother, Harriet, after marrying a free black man. In doing so, she created her own identity outside of being a “slave.” Then, after escaping from a plantation to Philadelphia, she made numerous journeys back to the South to help liberate black people from the bondage of American chattel slavery. In a lesser known act of defiance, Tubman served as a spy during the Civil War, alerting the Union Army to slaves who would join its fight if rescued. Her information launched the Combahee Ferry raid that freed hundreds of people. Tubman was one of America’s first female war heroes and is known as the only woman to lead a raid for the Union Army.

On one hand, replacing the face of Andrew Jackson – a man whose wealth was made on the backs of enslaved black people – with Tubman’s image sounds like an idyllic reversal of fortune. But in examining Tubman’s life, it’s clear that putting her face on America’s currency would undermine her legacy. By escaping slavery and helping many others do the same, Tubman became historic for essentially stealing “property.” Her legacy is rooted in resisting the foundation of American capitalism. Tubman didn’t respect America’s economic system, so making her a symbol of it would be insulting.

American capitalism historically has been used to oppress and disenfranchise women and people of color. At various points in our nation’s history, women were forbidden from owning property, married women were forbidden from working, and black women were restricted to jobs as cooks and maids. Even today, economic injustice continues in the form of unequal pay, limiting women’s ability to reach their full economic potential. For every dollar a white man earns from his labor in the United States, white women earn 78 cents, black women earn 64 cents, and Hispanic women earn just 54 cents. This isn’t a result of a lack of effort to rise up. Even with a college degree, black women earn less than white men without one. Single black women have a median net worth of just $100.

America’s currency is viewed as a place to honor people of historic political influence. To suggest that black women are part of that club by putting Tubman’s face on the $20 simply would cover up our nation’s reality of historic and lingering disenfranchisement. Of the 104 women in the House of Representatives, only 18 are black, and only one black woman has sat in the U.S. Senate since the nation was founded. Of the 78 women in executive statewide offices, just one is a black woman. There’s no doubt that black women have a political representation problem in America. But putting the face of an admired black American heroine on currency won’t fix it – it will only mask it.

If having Harriet Tubman’s face on the $20 bill was going to improve women’s access to said bill, I’d be all for it. But instead, it only promises to distort Tubman’s legacy and distract from the economic issues that American women continue to face. While adding representation of women to an area historically dominated by men can be encouraging and boost women’s morale, the symbolism risks masking inequalities that are far more important.

Harriet Tubman did not fight for capitalism, free trade, or competitive markets. She repeatedly put herself in the line of fire to free people who were treated as currency themselves. She risked her life to ensure that enslaved black people would know they were worth more than the blood money that exchanged hands to buy and sell them. I do not believe Tubman, who died impoverished in 1913, would accept the “honor,” were it actually bestowed upon her, of having her face on America’s money. And until the economic injustice against women in America ends, no woman should."
harriettubman  capitalism  us  currency  history  2015  feministajones  oppression  economics  markets  race  politics  disenfranchisement  gender  women  resistance 
may 2015 by robertogreco
Denmark Leads the Way Towards Ending Cash - Core77
"The country has announced that next year they'll stop printing the stuff altogether, meaning there's going to be some sweet printing presses for sale on Danish eBay. And the Danish government has announced a new proposal that will allow merchants—gas stations, restaurants, clothing stores, et cetera—to refuse cash transactions. According to Reuters, a financial institution lobbyist says that "going cashless would save shops money on security and time on managing change from the cash register."

What this won't end, of course, is theft; it will simply shift to a different arena, less ski-mask-and-gun, more keyboard-and-mouse. But if Denmark's cashless society works on balance, it's not inconceivable to think other countries will follow suit. As Fusion's Kevin Roose puts it, "It's time to take a lesson from the Danes…and admit that the 5,000-year reign of physical currency has run its course.""

[See also: http://fusion.net/story/131568/the-government-of-denmark-wants-people-to-stop-using-cash/ ]
denamrk  money  currency  cash  2015 
may 2015 by robertogreco
10 (Not Entirely Crazy) Theories Explaining the Great Crime Decline | The Marshall Project
"Over the course of the 1990s, crime rates dropped, on average, by more than one-third. It was a historic anomaly; one that scholar Frank Zimring dubbed “the great American crime decline.” No one was sure how long the trend would last. Then, in 2010, the Bureau of Justice Statistics announced that the homicide rate had reached a four-decade low. (Since then, overall crime rates have remained relatively flat.)While everyone agrees this is fantastic news, no one, least of all researchers and experts, can agree on exactly why it happened. Below are 10 popular theories for the decline, from abortion to lead to technology to the broken windows theory, with unvarnished views from three leading researchers—Zimring; Richard Rosenfeld, chairman of a National Academy of Sciences roundtable on crime trends; and John Roman of The Urban Institute—on which are the most plausible.

The “abortion filter” […]

The happy pill thesis […]

The lead hypothesis […]

Aging boomers […]

The tech thesis […]

Crack is whack […]

The roaring ’90s (and Obama-mania) […]

The prison boom […]

Police on the beat […]

Immigration and Gentrification […]"
crime  theories  theory  marshallproject  abortion  lead  prozac  ritalin  behavior  moods  babyboomers  population  demographics  technology  airconditioning  television  tv  cars  debitcards  currency  transactions  crack  drugs  economics  unemployment  greatrecession  recession  prison  incarceration  police  lawenforcement  gentrification  immigration  boomers 
november 2014 by robertogreco
TRANSACTIONS
"Silent scribes record your debt. Nothing passes from hand to hand except the goods you receive, or the services you hire. All of the information necessary for the settlement of your debt is recorded at the same time as the transaction, along with notations about your identity, your past transactions, your social status. Multiple accounting devices exist. Ledgers circulate freely and are convertible, negotiable, can be signed over to others in exchange for other goods and services. There is no coin, no paper money, but rather an infinite chain of receipts in a variety of material formats.

This describes not the future, but the past: the ancient world before the rise of coinage, when money was a unit of account, not a tangible object, and clay tokens, pebbles, string and cuneiform tablets recorded debits and credits.

Instead of coins or paper circulating in exchange as tokens or representations of value, that first era of cashlessness captured in centralized records the transactional information of a multitude of participants and formed the basis for entire systems of exchange. How might we begin to understand the coming era, not as the end of cash so much as the return of cashlessness? How might this attention to the longue durée of transactions reframe our understanding of payments’ materialization? And how might a historically and ethnographically nuanced understanding of payments in practice focus our attention on the material forms of debt and transactional data past, present, and future?

TRANSACTIONS: A Payments Archive aims to open a conversation among curators, academics, payments industry professionals, numismatists, collectors and others about the great human transactional archive. In the process, we seek to expand that archive, to allow more things into it, to question its boundaries, and to reflect on the immaterial and material, ephemeral and durable, worthless and valuable qualities of those things.

Museums have long been repositories for the stuff of money: metal tokens, paper notes, shells, bars, plastic cards, a variety of tangible media of exchange, payment, and value storage. How might we reconstitute a material history of money, debt, payments, and transactional records across the institutional contexts and collections architectures that often leave these artifacts scattered and disconnected? And what of non-physical forms of money, from ancient accounting to contemporary cashlessness? What of the ephemera of transactions, the ledgers and receipts that were themselves frequently transformed into instruments and indexes of credit and tokens of value?

Shifts in the form of money and payment pose a challenge to curation, but also re-open the old question of the nature of money itself. There is also an urgency to this project: Artifacts from the early days of electronic transactions are in landfills, not museums. The preservation and curation of computers and data storage devices is still nascent. That of, say, the paper warning bulletins issued by the early card networks, or the records flowing through the Automated Clearing House—not to mention the diversity and abundance of records-keeping tools and technologies by everyday people around the world—is nonexistent.

TRANSACTIONS aims to provoke conversation by juxtaposing artifacts from across the history of payments and to raise awareness of the history and future of money, payment and transactional records and data. "
artifacts  money  exchange  transactions  anthropology  currency  payment  archives  tokens  objects  history 
march 2014 by robertogreco
1 | A New Map Of The U.S., Created By How Our Dollar Bills Move | Co.Exist: World changing ideas and innovation
"Using a site that tracks dollar bills, a theoretical physicist noticed that our state boundaries are rather arbitrary, but that money tends to stay within new, more realistic boundaries."
maps  mapping  us  2013  currency  circulation  borders  boundaries  states 
march 2013 by robertogreco
The Spectacle of Paying – Future of Money
"With e-money, money becomes intangible. The »spectacle of paying« illustrates the idea of  visible gestures as a means of transferring and exchanging money face to face. The initial idea was to create  a  stringent system of specific gestures — each gesture equals a certain amount of money such as notes and coins.

The system of conducting in music has no absolute rules on how to conduct correctly, therefore a wide variety of different conducting styles exist. This inspired to think of a more flexible application where there are no set rules."
money  payment  2012  gunnargreen  design  currency  gestures  coins  exchange 
january 2013 by robertogreco
Hello Etsy Berlin - Douglas Rushkoff on Etsy - Livestream
"Everybody thinks that because they can blog, they should blog."

"Why do I want to scale? The only reason to scale is to get out of the business I'm in."

"What would you rather do? Would you rather do something or would you rather manage people who are doing that thing?"

"perverse corporate capitalism of the 1990's, the Jack Welch, General Electric, Harvard Business School model, which is get out of any productive industry and become more and more like a bank"

"What Jack Welch realized is that Marx was right…whoever is creating the actual value through their labor is the slave"

"what you want to do is get as far away from those guys as possible and get as close to the bank funding that activity as possible."
douglasrushkoff  economics  p2p  work  labor  2011  etsy  currency  slavery  jobs  corporatism  history  banking  finance  digital  exchange  internet  peertopeer  capitalism  karlmarx  meansofexchange  hierarchy  localcurrency  biases  doing  making  facebook  social  advertising  jackwelch  ge  generalelectric  sharing  scale  scaling  growth  business  entrepreneurship  self-employment  creativity  management  middlemanagement  middlemen  addedvalue  localcurrencies 
september 2011 by robertogreco
eurion constellations (oh yeah, paper!)
"Markus Kuhn described the EURion in 2002, after experimenting with a color photocopier to determine why it refused to duplicate currency. Steven J. Murdoch, also of Cambridge, has studied the detection of currency in software like Adobe Photoshop and says that “further investigation showed that the detection performed by software is different from the system used in colour photocopiers, and the Eurion constellation is neither necessary nor sufficent, and in fact it probably is not even a factor.”" [See also: http://en.wikipedia.org/wiki/EURion_constellation ]
eurionconstellation  eurion  currency  money  security  counterfeiting  photocopiers 
february 2011 by robertogreco
Could an Obama Dollar Bill Help Rebrand the U.S.? | Co.Design
"Dowling Duncan wants to put Obama on it now. In blue.

The Obama bill anchors their sweeping concept for redesigning U.S. banknotes, which also includes plastering a tepee on the five, the Bill of Rights on the 10, & FDR on the 100 -- each in its own technicolor hue. The impetus: The greenback has an image problem. It has come to represent everything that’s wrong with the American economy, & worse, w/ its cartoonish graphics & vaguely sinister styling, it actually looks the part…scheme, though purely hypothetical is about imbuing U.S. currency w/ sunny new meaning. Their bills are designed to be educational, intuitive & make America feel like it sucks a little bit less.

Part of their idea is just making U.S. banknotes easier to handle…each bill has its own color for simple identification…also come in different lengths so when you stack your bills, you can instantly eyeball how much you’ve got. Varying size is especially useful to help blind people distinguish btwn notes."
art  currency  design  money  us  usability  layout  size  image  classideas 
august 2010 by robertogreco
Square Mobile Credit Card System (Beta) | Wired.com Product Reviews
"Physically, the Square is a small, plastic cube about the size of two Chiclets. From its bottom side an audio connector plugs into the headphone port on your phone. A slot in the cube lets you pass a credit card through. When you do, a reader converts the data from the magnetic strip into an audio signal and passes it on to software on the phone."
iphone  currency  economics  ecommerce  business  mobile  money  apple  creditcards  commerce  applications  ios 
february 2010 by robertogreco
Paying Zero for Public Services | Exploring the interactions among public opinion, governance, and the public sphere
"But you are poor...& you don't have the money he wants. & the most absurd part about the scenario you find yourself in is that this is a public service that should be rendered to you free of charge in the first place. What would you do? You might conclude, as you have done for the last 1.5 years, that there isn’t much you can do…but wait, you just heard about a local NGO by the name of 5th Pillar & it just happened to give you a powerful ally: a zero rupee note.

In Doha last month, CommGAP learned about the work of 5th Pillar, which has a unique initiative to mobilize citizens to fight corruption. In India, petty corruption is pervasive – people often face situations where they are asked to pay bribes for public services that should be provided free. 5th Pillar distributes zero rupee notes in the hopes that ordinary Indians can use these notes as a means to protest demands for bribes by public officials."
politics  economics  activism  government  money  development  corruption  currency  protest  governance  solutions  india  bribery  bribes  rupee  worldbank  design 
january 2010 by robertogreco
Op-Ed Columnist - Chinese New Year - NYTimes.com
"The bottom line is that Chinese mercantilism is a growing problem, and the victims of that mercantilism have little to lose from a trade confrontation. So I’d urge China’s government to reconsider its stubbornness. Otherwise, the very mild protectionism it’s currently complaining about will be the start of something much bigger."
devaluation  unemployment  dollar  recession  china  policy  economics  depression  bailout  paulkrugman  politics  currency  trade 
january 2010 by robertogreco
FT.com / Comment / Opinion - Mother of all carry trades faces an inevitable bust
"This unraveling may not occur for a while, as easy money and excessive global liquidity can push asset prices higher for a while. But the longer and bigger the carry trades and the larger the asset bubble, the bigger will be the ensuing asset bubble crash. The Fed and other policymakers seem unaware of the monster bubble they are creating. The longer they remain blind, the harder the markets will fall."
us  policy  economics  bubbles  commodities  finance  2009  nourielroubini  currency  government  trading 
november 2009 by robertogreco
The demise of the dollar - Business News, Business - The Independent
"In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar."
via:javierarbona  2009  china  middleeast  currency  japan  business  economics  politics  europe  recession  world  money  finance  iraq  crisis  energy  iran  russia  geopolitics  oil  gold  dollar  us 
october 2009 by robertogreco
Can China buck the dollar? | csmonitor.com
"Despite America's debt woes, the US dollar is still being used in the vast majority of international trade deals. Until China's leaders stop acting like emperors over their own people, the dollar will be the emperor of world currencies for some time to come."
dollar  us  currency  world  global  international  economics  china 
july 2009 by robertogreco
Change We Can’t Believe In: Financial Page: The New Yorker
"It’s no coincidence that this kind of panic has taken hold in Argentina: the country’s history of financial crises has made people there profoundly skeptical of the way markets work. The sharp spike in inflation in the past couple of years, for instance, was almost certainly exacerbated by Argentina’s previous experience with hyperinflation. Businesses that have gone through an episode of hyperinflation become understandably alert to the threat of it: at the first hint of inflation, they’re likely to increase prices, since they’ve learned that if they don’t, and inflation hits, their businesses will be wrecked. In the same way, when it comes to holding onto coins, people hoard first and ask questions later."
money  coins  argentina  economics  change  risk  psychology  currency  buenosaires 
june 2009 by robertogreco
money design and history
"it is said that recession provokes artists, designers
money  economics  art  design  currency 
february 2009 by robertogreco
Inside the world's most annoying economic crisis. - By Joe Keohane - Slate Magazine
"It's taken for granted that the peso coin is more valuable than the 2-peso note. " ... "The history of Argentina in the last 100 years is a story of great potential overwhelmed by a genius for acts of pointless economic self-destruction, but even for the Argentines, this is an exasperating state of affairs. The economy is still growing at a robust clip of around 8 percent year over year, but out-of-control inflation, estimated by independent analysts to be around 25 percent, has effectively devalued the currency, making it ironic that coins have become such an obsession. But an obsession they are, worthy of Argentine writer Jorge Luis Borges' story "The Zahir," about a man driven mad by contemplating a single coin." ... "In some cases, 5s and 10s are effectively worth more than 100s... Save for large purchases, 100-peso notes are functionally useless—imagine trying to trade a bar of platinum bullion for a sandwich and a coffee."
argentina  currency  absurdity  economics  inflation  politics  crisis  culture  money 
february 2009 by robertogreco
Seed: 2009 Will Be a Year of Panic: From the fevered mind of Bruce Sterling and his alter-ego, Bruno Argento, a consideration of things ahead.
"So 2009 will be a squalid year, a planetary hostage situation surpassing any mere financial crisis, where the invisible hand of the market, a good servant turned a homicidal master, periodically wanders through a miserable set of hand-tied, blindfolded, feebly struggling institutions, corporations, bureaucracies, professions, and academies, and briskly blows one's brains out for no sane reason."
brucesterling  brunoargento  future  2009  currency  disaster  predictions  business  environment  world  seed  panic  climate  copyright  futurism  economics  politics  money  collapse  crisis  insurance  science  intellectualproperty  culture 
january 2009 by robertogreco
The Five Dollar Comparison
"To explore the relative value of five dollars we are collecting examples from around the world by asking people to submit photos of objects or services that cost the equivalent of $5."
economics  society  world  international  comparison  currency  collaboration  capitalism  experiments  exchange 
july 2008 by robertogreco
Seriosity: The Enterprise Solution for Information Overload
"We use psychological and economic principles that drive successful multiplayer online games to improve collaboration, innovation and productivity. We offer consulting services to help enterprises develop a game strategy optimized for their challenges and
games  business  arg  attention  collaboration  learning  management  leadership  mmo  mmog  seriousgames  virtualworlds  janemcgonigal  happiness  education  play  productivity  psychology  mmorpg  workplace  work  gaming  currency  money  economics  metaverse  email  enterprise2.0  complexity  entertainment  scarcity  socialsoftware  infooverload  im  wikis 
june 2008 by robertogreco
chris woebken I selected projects - a new relationship to e-money
"I designed devices for different spending behaviors, imagining new parasitical services sitting on top of bank accounts that create feedback mechanisms and a new relationship to our bank-account as an extension of ourselves. I am interested in exploring
currency  via:adamgreenfield  money  transit  transport  urbancomputing  design  rfid  datamining  economics  ecosystems  future  payment 
may 2008 by robertogreco
The Designer - Matthew Dent [The Royal Mint, see also http://www.royalmint.com/newdesigns/designsRevealed.aspx]
"It's easy to imagine the coins pushed around a school classroom table or fumbled around with on a bar - being pieced together as a jigsaw and just having fun with them."
design  interaction  money  graphics  currency  uk 
april 2008 by robertogreco
The New Designs Revealed [The Royal Mint]
"Shield of the Royal Arms has been given a contemporary treatment and its whole has been cleverly split among all six denominations from the 1p to the 50p, with the £1 coin displaying the heraldic element in its entirety"
graphics  currency  uk  money  design 
april 2008 by robertogreco
How People Count Cash?
"This video shows how people in all around the world count their cash in different ways."
culture  currency  geography  travel  technique  money  counting  method  norms  international  world  observation  countries 
february 2008 by robertogreco
ANTARCTICA Dream-Dollars
"The official currency of Nadiria, the losy colony of Antarctica"
fiction  fantasy  money  micronations  illustration  typography  currency  art  design  ephemera  antarctica  antarctic 
december 2007 by robertogreco

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