Finance & economics | The rouble

The cashless society

|MOSCOW

HAVING failed to pay its workers any cash wages for 13 months, the Akhtuba factory in Volgograd decided to pay them for February in kind. Unfortunately for the workers, the kind of product Akhtuba had to hand was “the Adam”, a rubber dildo, into the making of which the firm had diversified in 1993 when it ran out of customers for its marine navigation equipment. Workers who tried to sell their Adams to the local sex shop found out in ten minutes what it had taken their superiors four years to twig: that the market had moved on to electronic vibrators, and inert dildos were unsaleable even in Volgograd.

More from Finance & economics

China meets its official growth target. Not everyone is convinced

For one thing, 2024 saw the second-weakest rise in nominal GDP since the 1970s

Ethiopia's Prime Minister Abiy Ahmed speaks during the launch of the Ethiopian Securities Exchange in Addis Ababa, Ethiopia, on January 10th 2025

Ethiopia gets a stockmarket. Now it just needs some firms to list

The country is no longer the most populous without a bourse


Shibuya crossing in Tokyo, Japan

Are big cities overrated?

New economic research suggests so


Why catastrophe bonds are failing to cover disaster damage 

The innovative form of insurance is reaching its limits

“The Traitors”, a reality TV show, offers a useful economics lesson

It is a finite, sequential, incomplete information game

Will Donald Trump unleash Wall Street?

Bankers have plenty of reason to be hopeful