So it took paper currency 150 years to establish itself. That is why when people say smart cards have been around 20 years and are yet to be established, I laugh, because smart cards are relative newborns. BUT the point is history is not a guide here. Expand the money supply and economic growth occurs - and more transactions occur. Look at the example of frequent flyer points - they have expanded substantially the number of transactions in the airline industry.
People buy more tickets in order to get enough free miles.
Effectively, the airline industry has expanded the money supply for the industry. All rights reserved. Terms of Use . Privacy Policy .