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Publisher's Summary

The world is drowning in cash - and it's making us poorer and less safe. In The Curse of Cash, Kenneth S. Rogoff makes a persuasive and fascinating case for an idea that until recently would have seemed outlandish: getting rid of most paper money.
Even as people in advanced economies are using less paper money, there is more cash in circulation - a record $1.4 trillion in US dollars alone. So what is all that cash being used for? The answer is simple: a large part is feeding tax evasion, corruption, terrorism, the drug trade, human trafficking, and the rest of a massive global underground economy.
As Rogoff shows, paper money can also cripple monetary policy. In the aftermath of the recent financial crisis, central banks have been unable to stimulate growth and inflation by cutting interest rates significantly below zero for fear that it would drive investors to abandon treasury bills and stockpile cash.
The Curse of Cash offers a plan for phasing out paper money and addresses the issues the transition will pose, ranging from fears about privacy and price stability to the need to provide subsidized debit cards for the poor.
©2016 Kenneth S. Rogoff (P)2016 Tantor
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Customer Reviews

Most Helpful
1 out of 5 stars
By Chris White on 10-04-16

BORING

The narration is terrible. Listen to the Ted talk recap if you want to hear everything about this book inside of 10 minutes.

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1 of 1 people found this review helpful

5 out of 5 stars
By RRH on 02-25-18

Rogoff is never wrong!

ideologically speaking, this book is as much about negative interest rate policy as it is about removing large denomination bills. this book is extremely relevant. everyone should understand that rogoff is a very influential person on this planet. he understands policy from a government's point of view. read it, at least so you're not surprised about the way of the future unfolds, and preparation for opportunities that will arise. good luck!

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