Rather than carrying a wallet, users could wave their wrists and pay for coffee at Starbucks (now, even, without a NFC chip) or use their iWatch as a credit card.
The full social impact of the recession will kick in after the summer, when a first wave of jobless run out of unemployment pay and start receiving less generous welfare handouts.
Digital music is the wave of the future--and it raises the question of who will pay whom for what.
If this ruling stands, the IRS can expect a tidal wave of refund applications from employers and terminated employees regarding FICA taxes paid on severance pay.
FORBES: Big Tax Win For Terminated Workers and Companies; Big Loss For IRS
There is a lot of talk about a great wave of shareholder activism against excessive executive pay, a so-called Shareholder Spring - and there has been a 100% increase in the number of rejections by investors of FTSE 100 companies' remuneration policies, from just one decisive rebellion, in some years, to a grand total of two this year.
As he said to me yesterday, he is concerned that the current wave of protest votes against excessive executive pay could turn out to be a passing fad - and he therefore wants a constitutional change that would lead to a permanent transformation of big institutional shareholders into properly informed and engaged proprietors.
At 27, Watkins brings refreshing youth and innocence to a song sung from the perspective of a grizzled barge-worker: Only "a fruit jar full of iced tea" and "a half a day off with pay" provide relief to a lingering heat wave.
Instead of opening wallets in shops and being confronted with a choice of whether to pay by cash or plastic card, they will wave a phone at the checkout.
He is also offering operating subsidies through the renewable-obligations mechanism, which will pay tidal generators three times as much as the subsidy paid to onshore wind farms, and wave generators five times as much.
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