When the US attempted to transition to the metric system, gas stations raised their prices per unit volume and the American consumer was convinced that the metric system was bad. I have family that think metric is bad because some fringe people thought there should be 10 hours in a day and 100 minutes in an hour, also something like 10 months a year, and the whole thing is bad because some awkward ideas were floated.
Here, it's a question of resolution, with a proven history that transitions screw the consumer, though maybe it won't be so. We're ok with arbitrary hundredths of a dollar, why were we not at thousandths? The American half cent disappeared a long time ago. You still need to include the cents in a tax bill that runs into the millions of dollars.
It's just an awkward stage in inflation. Eventually a US dollar will be worth what a Zimbabwean dollar was, and we won't have $100 bills anymore.
During the French Revolution, they tried to make a right angle have 100 degrees and even recomputed all new trig tables for this new standard. It obviously did not catch on :)
Indeed, gradiens are a scale where a circle is divided into 400 equal parts. Really fucked me up a few times when I got a new calculator and wasn’t paying attention to what the little “grad” meant.
I usually want to cut pies into 14 pieces. Some might want 11 or 13. (17 is just too many.) I demand that we implement a system where a circle is 2 * 3 * 4 * 5 * 7 * 3 * 11 * 13 = 360360 degrees, so that we can cut pies evenly at anywhere from 2 to 15 slices. If my baker cuts a slice at 25739 degrees, I want a refund! (I'll keep the pie, because the pie is obviously useless.)
(720720 might be OK too so we can cut 16 pieces, but honestly, if you're cutting 16 pieces, you're not going to measure. You're just going to divide pieces in half until you have 16. 360360 is the future.)
Some pocket calculators from not too long ago supported this unit for some reason, along with radians and degrees. That's the third option on "DRG" button.
It used to be that they gave you the choice. You could round or you could use pennies but you had to be consistent throughout the return, because even the IRS doesn’t care if you manage to scrape out 49 cents.
It is still a choice, though I cannot remember the last time we used cents on ours or any other returns (my wife works for an accounting firm so they handle a fair number of returns). Just has to be consistent, either you round or you do not.
Heard some pundits on the radio talking about the elimination of the penny and one of them who worked at the Secret Service as an analyst talked about why the US paper money only goes to $100 bills. He said it was to reduce criminals and illicit activity and criminals having to store it.
He related the story of Pablo Escobar's brother or cousin who was the accountant for the cartel. He said they were losing billions of dollars every year because of various kinds of attrition like rats chewing up the money, it getting too wet and disintegrating. They were losing so much because they had to store it and that wasn't always the best because they had so much of it on hand which seemed to lend credence to his story.
So if you were to get rid of the $100 bills that would further erode the ability of criminals to store so much of it.
I'm not really sure about "He said it was to reduce [...] criminals having to store it". Storage shouldn't be a huge problem - IIRC you can pack about a hundred million onto a standard pallet. Even for Escobar, who is THE outlier here, and assuming he's holding 100% of it in cash, that's about 300 pallets which easily fits into a normal warehouse. If you've got that much money it shouldn't be impossible to keep a warehouse like that clean and dry.
Now, "illicit activity" more broadly speaking checks out to me. The EU stopped printing the 500 euro note because it was primarily used for illegal transactions and money laundering.
When the $1000 bill was retired, a loaf of bread cost a couple cents. There was indeed a push to purge them during the drug scares of the late 20th century. A suitcase of $1000 bills is far sexier than one of $100 bills. It really was porting them.
With bitcoin, it's moot.
A $100 is basically a tank of gas and a sandwich in CA.
$70!? How big are these lawns? Hell, I'd mow lawns for $70 each.
I wouldn't pay more than $5 for someone to mow my lawn, but then again, it's tiny at like 20x15 feet. I spend more time getting the mower out and putting it back away than actually mowing. Probably gonna replace it with just a bunch of wildflowers next spring.
Your neighbors who pay a service with similar sized lawn are mostly paying them to drive to their house. The neighborhood kids can undercut them without that time inefficiency. But they only need to slightly undercut them, so they get a good payout (for them)
The 500-euro bill is being phased out for similar reasons. Though it's worth noting a 100-dollar bill was worth more than twice what it is today when Pablo Escobar died.
Stores don’t accept 200 euro notes because most people haven’t seen one. I regularly get 500 euro notes, but I think I’ve only held a 200 euro note once in my life.
The other thing about hundred is I tend to carry one or two when I travel internationally but I’d never count of using one in a lot of places in the US.
Since we’re talking about US monetary policies, I’m going to assume the same religion that thinks the world is only a few thousand years old and dinosaurs are a hoax.
Here, it's a question of resolution, with a proven history that transitions screw the consumer, though maybe it won't be so. We're ok with arbitrary hundredths of a dollar, why were we not at thousandths? The American half cent disappeared a long time ago. You still need to include the cents in a tax bill that runs into the millions of dollars.
It's just an awkward stage in inflation. Eventually a US dollar will be worth what a Zimbabwean dollar was, and we won't have $100 bills anymore.