I really enjoyed reading this blog from Simon Taylor on the diminishing role of cash in contemporary economic life. Increasingly most cash is held in high denomination notes, even small scale transactions such as buying a coffee at the railway station or a book at the airport bookstore are paid using debit and credit cards. Is cash as a medium of exchange in almost permanent secular decline?Simon Taylor looks in his blog at the concept of seignorage - the return on producing notes and coins for governments and their central banks. Just recently I lost both of my debit cards and was grateful that I usually hold fairly large cash balances to ease my way through a week or so without a card to use. It certainly made me more aware of what I was spending!Here is the link to the blog: http://www.simontaylorsblog.com/2014/08/27/could-w...