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“Fans heading to Yankee Stadium hoping to pay in cash at the iconic ballpark for their favorite concessions have been thrown a curveball: go cashless or pay extra.“
“It’s Just Not Right”: Major Venues Now Punishing People For Using Cash Vs. Plastic | ZeroHedge
Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times. View more posts
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Many retail businesses have a problem with theft and the move toward cashless payments might be a way to keep the money coming in to the cash register and not the employee’s pockets. Credit cards often pay a kickback to the user– mine gives 1.75%. The non cash system might be a problem for some, but many without modern financial accounts are guilty of less than responsible money management practices. Doesn’t everyone have a kid brother who failed to develop good money management skills?