Techno-banking: Money without State

The poorer countries of the world have spontaneously developed "techno-banking" - without any state interference. Many payments are made via mobile phones.

This commentary is from the column “Mayers Weltwirtschaft” (Mayer’s World Economy) which was published in the FAS (Frankfurter Allgemeine Sonntagszeitung) and is available online at www.faz.net (in German only).