The theory that money emerged naturally encourages people to believe free markets are natural systems in which governments only interfere. But this thinking is flawed.
Peter Martin, Crawford School of Public Policy, Australian National University
Less than 20 years ago, 69% of Australians’ purchases were made with cash. It’s now 13% and falling. This chart shows how the way we pay has completely changed in just one generation.
Accepting digital payments.
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As the US increasingly becomes a cashless society, it’s getting harder to use currency to pay for things – including taxes. One fearless economist gave it a try.
Visa and Mastercard both recently agreed to remove their no-surcharge rule, leaving businesses free to pass these fees along to customers.
(Shutterstock)
Businesses can now pass credit card surcharge fees along to their customers. To help businesses predict how consumers will react to credit card surcharges, behavioural economics offers some answers.
Cash is pretty convenient.
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Charles Schwab mistakenly transferred over $1.2 million to the account of a woman who then kept the money. Did she have a moral obligation to return it? An expert says the answer is not that simple.