Check-cashing stores allow a customer to cash a check without a bank account, but often charge fees to do so. Check-cashing stores can charge these fees because many of their customers don’t have a real choice.
Until recently, Bitcoin controlled 85 percent of the total cryptocurrency market value, or market cap. The other 15 percent was split between more than 680 competitors. But as Bitcoin’s price began to take off, competitors like Ethereum and Ripple XRP grew faster.
While the finance industry has seen more wage growth than most, postsecondary education requirements for jobs is not a finance-only phenomenon. Eighty-eight percent of the 6 million new jobs the U.S. economy created between 2007 and 2016 required a bachelor’s degree or higher.
Economies will often deconstruct old markets in order to free up resources in a process called “creative destruction.” It helps markets grow and evolve to meet the demands of a modern economy, but the process is difficult for many.