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The Future of Money in the Information Age
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171 pages, Paperback
First published April 1, 1997
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Displaying 1 - 2 of 2 reviews
July 25, 2024
ESSAYS ABOUT MONEY IN THE FUTURE
This 1997 Cato Institute book contains nineteen essays which "consider the implications of the information revolution for financial innovation and the future of money... contributors examine the regulatory climate; the impact of e-money on taxation, banking, and monetary policy; and the problem of maintaining privacy in the new monetary universe." (Preface)
There is even one essay ("Fostering Financial Innovation: The Role of Government") by then-Federal Reserve Chairman Alan Greenspan, who says, "As I have said many times in the past, to continue to be effective, governments' regulatory role must increasingly assure that effective risk management systems are in place in the private sector. As financial systems become more complex, detailed rules and standards have become both burdensome and ineffective, if not counterproductive." (Pg. 48)
Another essayist notes, "Through the use of cryptographic technology... the ease of conducting electronic transactions would be combined with the elegant anonymity of paying in cash... Naturally, the IRS doesn't like it. But the matter may be beyond its control." (Pg. 82) Later, he adds, "if it becomes increasingly easy to avoid taxation, will not many people, who are not criminals in the traditional sense, begin to make their own moral decisions about how much government to support." (Pg. 85)
Somewhat "dated," of course, this book is not without some current value.
This 1997 Cato Institute book contains nineteen essays which "consider the implications of the information revolution for financial innovation and the future of money... contributors examine the regulatory climate; the impact of e-money on taxation, banking, and monetary policy; and the problem of maintaining privacy in the new monetary universe." (Preface)
There is even one essay ("Fostering Financial Innovation: The Role of Government") by then-Federal Reserve Chairman Alan Greenspan, who says, "As I have said many times in the past, to continue to be effective, governments' regulatory role must increasingly assure that effective risk management systems are in place in the private sector. As financial systems become more complex, detailed rules and standards have become both burdensome and ineffective, if not counterproductive." (Pg. 48)
Another essayist notes, "Through the use of cryptographic technology... the ease of conducting electronic transactions would be combined with the elegant anonymity of paying in cash... Naturally, the IRS doesn't like it. But the matter may be beyond its control." (Pg. 82) Later, he adds, "if it becomes increasingly easy to avoid taxation, will not many people, who are not criminals in the traditional sense, begin to make their own moral decisions about how much government to support." (Pg. 85)
Somewhat "dated," of course, this book is not without some current value.
February 10, 2015
Essays by those looking into e-money, what it could do to banking, electronic purse, etc.
Displaying 1 - 2 of 2 reviews