[News] Japan to ban money?

endless psych · 23rd June 2009, 9:06pm

Came across this on the freakonomics blog

Times article here

Quote:

With recovery elusive, a population doddering into old age and perhaps a decade of deflation in prospect, Japan may start mulling the most radical monetary policy of all — the abolition of cash.

Oyster card tastic by the sounds of it.

They are also considering taxing the use of physical money as a means of avoiding another economic downturn.

I wonder if Japanese folks tend to spend more money more frivolously using plastic rather then cash?

**GreatKingRat** · 23rd June 2009, 9:11pm

Quote:

Originally Posted by endless psych

I wonder if Japanese folks tend to spend more money more frivolously using plastic rather then cash?

I reckon most people do that, it's psychological.

endless psych · 23rd June 2009, 10:55pm

I wonder if thats why they want to ban money. In an attempt to get people to go on ill advised spending sprees...

crazydiamond85 · 23rd June 2009, 11:46pm

surely every country will be getting rid of actual cash at some point, why not start now.
poor homeless beggers are pretty fucked if we do

*Potatojunkie* · 23rd June 2009, 11:55pm

Quote:

Originally Posted by endless psych

I wonder if thats why they want to ban money. In an attempt to get people to go on ill advised spending sprees...

Er, yes and no. You did read the article?

Rosco · 24th June 2009, 9:48am

Japan is largely a cash-based economy. It's not like here where you can pay anything on a card, i wonder how that would go down.

AWESOMEUS MAXIMUS · 24th June 2009, 10:17am

Abolish cash & the wages system full stop

Bobzilla · 24th June 2009, 10:22am

Quote:

Originally Posted by Rosco

Japan is largely a cash-based economy. It's not like here where you can pay anything on a card, i wonder how that would go down.

Is Japan not the country where you can use your phone to pay for stuff in shops?

slicer · 24th June 2009, 11:11am

Won't somebody please think of the Yakuza!

bikuki · 24th June 2009, 11:33am

Quote:

Originally Posted by Bobzilla

Is Japan not the country where you can use your phone to pay for stuff in shops?

Yes. And you can use their equivalent of an Oyster card to pay for things in shops, too.

Rosco · 24th June 2009, 12:31pm

Apparently 'Western' phones don't work in Japan because they're not advanced enough, which is bizarre. Aye, can't use cards in a lot of places though.

TSR · 24th June 2009, 2:31pm

Quote:

Originally Posted by slicer

Won't somebody please think of the Yakuza!

That's an interesting point. Not only the beggars that'd be fucked, but the drug dealers too

Would be a pain in the arse for pubs & clubs, though

Zero · 24th June 2009, 2:40pm

Why? Pubs and clubs seem like the ideal place for electronic payments if they can be processed quickly.

slicer · 24th June 2009, 2:53pm

Quote:

Originally Posted by TSR

That's an interesting point. Not only the beggars that'd be fucked, but the drug dealers too
And lets not forget those involved in extortion and prostitution annol. They not deserve a mention?

Would be a pain in the arse for pubs & clubs, though

Quote:

Originally Posted by Zero

Why? Pubs and clubs seem like the ideal place for electronic payments if they can be processed quickly.

Pretty much. It's frustrating when you've got someone who's pished diggin' out the change at the bar.

TSR · 24th June 2009, 3:15pm

Just hard to imagine paying £1.50 by card. Wouldn't object to it, though

Also have a drunk trying to put in a pin number, on a relatively small keypad
Though if you had a 'club card' (

) you could check online to see just how much you actually drank. You'd need to find a way to put a limit on your nightly spend too

Not hard to do though, I guess