R Street Institute

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Barron’s Mailbag

March 12, 2016
Print
issues: Finance and Trade
originally published in Barron’s

The Feb. 27 Editorial Commentary (“Money Yields to Progress: Cash Is Obsolete”) mentioned that in 1950 a penny still had value—at least that of a penny candy. But the Fed’s inflation has now reduced the worth of a penny to so close to zero that the difference doesn’t matter. Whatever changes are made to forms of cash, they should certainly include discontinuing the penny.

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