NPR’s Planet Money podcast recently profiled Crane & Co., the only official paper supplier for the US Bureaus of Engraving and Printing. Those are the folks who print the money.
Besides being an interesting listen for those interested in either printing and economics, the segment reminds us that things do change. In particular, consumers have continued to change the way in which we buy our stuff. Money is not just competing with credit cards these days. Now that over half the US population now carries a smart phone, they are slowly becoming out new wallet.
David Crane still thinks paper money will be used in the next 50 years, albeit on a lesser scale. He’s probably right. Societal and behavioral shifts typically occur on a much longer timeframe than technologists would have you believe.
photo: Owens Valley Desert Rat