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Cash, Corruption and Economic Development: Routledge Focus on Economics and Finance

Autor Vikram Vashisht
en Limba Engleză Paperback – 30 iun 2021
Have you ever asked yourself what gives comfort to someone who demands and accepts a bribe, sells drugs or commits professional crimes for money? The majority of these people are not wealthy, and they accept small amounts of money every day from their victims.




Cash, Corruption and Economic Development examines the causes of corruption and crime and highlights what brings comfort to all those who accept bribes and kickbacks, arguing that it is paper currency because it does not leave a signature of its movement from one entity to another. The author proposes that today, with the technology available, we can make the transition to a paper currency-free economy, which will help reduce corruption and crime and give a boost to economic development. The book analyses the causes of corruption and presents a replacement for the current model, to be implemented by a central bank and followed by banks operating within its jurisdiction.




This book will be of interest to economists, students of economics and finance, and all those who have suffered as a result of corruption and professional crime and want these practices to end.
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Specificații

ISBN-13: 9781032096889
ISBN-10: 1032096888
Pagini: 142
Ilustrații: 1 Illustrations, black and white
Dimensiuni: 138 x 216 x 8 mm
Greutate: 0.18 kg
Ediția:1
Editura: Taylor & Francis
Colecția Routledge
Seria Routledge Focus on Economics and Finance

Locul publicării:Oxford, United Kingdom

Public țintă

Postgraduate and Undergraduate

Cuprins



List of illustrations


Preface


 


1 We the people


Impact of corruption on development


Impact of movement of dirty money on development


Factors impacting the level of corruption


An honest bottom cannot have a corrupt top


Trade brings economic development


Development has to be sustainable


2 Corruption no more


Impact of transition on corruption


Impact of transition on economic development


How are payments made after transition to a paper currency- free economy?


Transfer of money


The use of fake currency


Our fight against crime


Our right to privacy of information


The sellers of contraband


Collection of tax revenue


Solutions for the visually impaired, elderly and those who may lack literacy


The threat of digital fraud


The threat of digital fraud – cont’d


The transition does not need smartphones or computers


You can travel alone


An active step


3 The technicalities


Partial or complete transition


The cost of transition


Factors influencing transition


Ability to open a bank account with a fake identity


The speed of processing


Development of alternative currencies


The legal tender


The electronic currency


The electronic currency account


The rolling out of the system


The rolling out of the system – cont’d


Why does a central bank need the ability to monitor the electronic currency accounts of banks in real time?


How is the authenticity of electronic currency verified?


Recalling and replacement of paper currency – the most important factor for transition


Recalling and replacement procedure – cont’d 1


Recalling and replacement procedure – cont’d 2


Recalling and replacement procedure – cont’d 3


Recalling and replacement procedure – cont’d 4


Recalling and replacement procedure – cont’d 5


Need for paper currency to settle international transactions


Which currency is used and which bank accounts are affected when entities settle their transactions?


Undirectional conversion needs oversight and direction


Platforms for the electronic transfer of money


How will criminals evade the system?


Central bank is in the centre


The choice rests with us


 


Index

Notă biografică



Vikram Vashisht is a Certified Practising Accountant (CPA), Master of Accounting, Bachelor of Laws (LLB) and Bachelor of Commerce (BCom), and has previously served as a finance officer in the Australian Army.

Descriere

This book examines the causes of corruption and crime and highlights the cause of comfort to all those who accept bribes and kickbacks. The comfort is paper currency because it does not leave a signature of its movement from one entity to the other. Today, with the technology available, we can make the transition to a paper c