share of the action."
There is much we do not know about this distribution system called the payment mechanism. Most of our research has been on the other side of the transaction, namely the physical goods or services we demand for consumption or investment. Hopefully, the discussion presented in this chapter will generate interest in some researchers to investigate this area. To that end, we have included a bibliography of publications that we found useful in our work. 5
James T. Lindley
Although the U.S. government has provided a relatively high quality currency over the years, we have had serious bouts of inflation and a disastrous deflation (great depression). There are many economists who have been highly critical of the quality of currency, but relative to most other nations the United States has done well. Consequently, its currency circulates widely over the world. It is used in many countries where inflation lowers the quality of the domestic currency such as happened in Israel and in numerous countries in South America.
| Payment System|
|Cashless Society Schwartz ( 1978).|