239 karma · joined January 21, 2011
Risk of theft (employee, passerby, organized crime). Theft is way down largely due to lack of cash.
Convenience/time. It takes (paid) time to drop cash. And customer time to manage cash. And lost sales due to people not having enough cash on them.
Lower average sales. People spend more when using cards than cash due to psychological reasons.
In reality, there are a lot more people than this who are just on the edge of scraping by. Some of their own volition (some people on the edge make $200k+ and it's because of a series of poor decisions), but even more people because the poverty line doesn't even pay for their studio apartment (I see you, California!), much less food or anything else.
But...(at least in the US), wafer manufacturing is highly regulated and focused on safe waste handling...
To your point on wasting tax money, have you seen the defense budget lately? Can fix those two issues and them some with some moderate cuts. Capital gains taxed the same as earned income would help too, but won't make enough to solve the big issues.
Solid point though. There are plenty of regions where you can live quite comfortably (and save for retirement even!) on wages that would leave you homeless in the bay area...
There's a chance that there are effects. However, this study proves nothing.