Welcome to The Counterbalance, the newsletter of the Balanced Economy Project. Today's edition carries a wide-ranging interview with Brett Scott, an ex-banker and author of the nonfiction Penguin book Cloudmoney, on the seemingly unstoppable rush towards a cashless society. This is a big one, involving a potentially terrifyingly fusion between Big Tech and Big Finance. Digital money versus cash, Scott says, is like Uber versus bicycles. We need both: if we get rid of bicycles and leave only Uber, we face a monopoly trap.
The monopolists' war on cash
The monopolists' war on cash
The monopolists' war on cash
Welcome to The Counterbalance, the newsletter of the Balanced Economy Project. Today's edition carries a wide-ranging interview with Brett Scott, an ex-banker and author of the nonfiction Penguin book Cloudmoney, on the seemingly unstoppable rush towards a cashless society. This is a big one, involving a potentially terrifyingly fusion between Big Tech and Big Finance. Digital money versus cash, Scott says, is like Uber versus bicycles. We need both: if we get rid of bicycles and leave only Uber, we face a monopoly trap.