8/18/2019 Article Summary.docx

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Name: Mujtaba Ahmed SiddiquiERP: 08530

Class: Tues/Thurs 2d Sl!t

Summar" !# the arti$le

 The Arti$le% ‘Why Do We Still Use Paper Money?& 'ritte b" Ri$hard Rah

a((eared i The )ashi*t! Times ! A(ril +% 20,-. Ri$hard iitiall" tals ab!ut the

disadata*es !# usi* (a(er $urre$" i this m!der a*e ad re*ards it as 1dirt"

ad (erishable&. e the ealuates the im(!rta$e !# ele$tr!i$ (a"mets b"

stati* that thr!u*h $!m(uters m!e" $a easil" be st!red ad tras#erred.

 There#!re (e!(le alue dieret #!rms !# (lasti$ m!e" m!re $!eiet tha $ash.

 The ta*lie 1Easil" st!le% 4lth" $urre$" !u*ht t! be #!rsae& ree$ts a $!m(lete

reje$ti! !# (a(er m!e".

!'eer the auth!r the tells that he eer e6(e$ted the i$rease i demad #!r

(a(er $urre$" ,5 "ears ba$. 7ut i realit" it is ha((ei* due t! ari!us reas!s.

irstl"% the su((l" !# the (a(er $urre$" has redu$ed si$e mer$hats hae started

t! use ele$tr!i$ m!e" i their deali*s. This meas a lar*er $hu !# (a(er

$urre$" is e(t at h!mes. Se$!dl"% the (a(er m!e" is $!sidered as

1a!"m!us& as there is ! third (art" i!led. S! less ris is i!led as

*!ermet a*e$ies $a!t $!4s$ate the etire m!e" b" sei9i* the ba

a$$!ut. Thirdl"% i !rder t! $urtail m!e" lauderi* m!re d!$umets ad lar*er

bala$es are required t! $reate a ba a$$!ut. This re#rais the (!!r (e!(le #r!m

usi* the ele$tr!i$ m!e".

$!$lusi!% (e!(le 'h! mae the re*ulati!s are blamed #!r the diseases

s(readi* #r!m (a(er $urre$". The auth!r states that the eer i$reasi* rise i

(a(er $urre$" is due t! sel4sh (!li$ies !# the *!ermet. ;250 )!rds<

Pers!al =(ii!

m" !(ii!% the arti$le d!es ideti#" alid reas!s as t! 'h" 'e still use the (a(er

m!e". !'eer% as (er m" !'led*e (a(er m!e" als! !ers the #a$ilit" !# 

diisibilit" rather tha the (lasti$ m!e". Pa"i* 2 ru(ees/d!llars thr!u*h $redit$ards t! a small s$ale sh!(ee(er '!&t be a((r!(riate as there are hi*h $ha$es

that he ma" !t hae the $redit ma$hies. M!re!er (a(er m!e" is better tha

$!is as 'ell% as its itrisi$ alue is less tha the maret alue he$e the $ha$e !# 

$!erti* it t! s!methi* else ad the selli* it is miimi9ed.

disa*ree 'ith the 'riter as he stated that th!se 'h! mae re*ulati!s are

res(!sible #!r deteri!rati! !# (a(er $urre$". realit"% the" themseles 'at

http://www.cato.org/people/richard-rahnhttp://www.washingtontimes.com/http://www.washingtontimes.com/http://www.cato.org/people/richard-rahn

8/18/2019 Article Summary.docx

2/2

Name: Mujtaba Ahmed SiddiquiERP: 08530

Class: Tues/Thurs 2d Sl!t(a(er m!e" as it is relatiel" eas" t! hide it rather tha $!$eii* the ba

a$$!uts. S! (ra$ti$all" it is !t (!ssible t! elimiate either !# the t"(es. ;,50

)!rds