(fwd) Economics of Digital Money.

[James A. Donald]

> But electronic checking it is a substitute for 
> conventional checking, it would just increase the 
> speed of the transaction.  From the economic standpoint,
> there is no difference in the dynamics of the checking 
> process from normal checks

And email is no different from mail, right?

Wrong:  When computer programs start spending money and receiving
money on behalf of their masters, we will see vast economic
changes.
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