Why Your Checkbook Is A Doomed Dinosaur

Phonographs, typewriters and rotary telephones are relics of a bygone age. Bruce Dalgaard, professor of economics and Asian studies at St. Olaf College and also a visiting professor at Carleton College, believes paper checks and debit cards may soon join those items on the scrapheap of history.

Dalgaard says checks are "simply too expensive" to last for much longer. He adds that the United States is "way behind the rest of the world" in recognizing this fact. In the future, shoppers likely will use transaction cards to make purchases[...]