The Curse of Cash
(eBook)

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Published
Princeton University Press, 2017.
Format
eBook
Status
Available Online

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Language
English
ISBN
9781400888726

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Citations

APA Citation (style guide)

Kenneth S. Rogoff., & Kenneth S. Rogoff|AUTHOR. (2017). The Curse of Cash . Princeton University Press.

Chicago / Turabian - Author Date Citation (style guide)

Kenneth S. Rogoff and Kenneth S. Rogoff|AUTHOR. 2017. The Curse of Cash. Princeton University Press.

Chicago / Turabian - Humanities Citation (style guide)

Kenneth S. Rogoff and Kenneth S. Rogoff|AUTHOR. The Curse of Cash Princeton University Press, 2017.

MLA Citation (style guide)

Kenneth S. Rogoff, and Kenneth S. Rogoff|AUTHOR. The Curse of Cash Princeton University Press, 2017.

Note! Citation formats are based on standards as of August 2021. Citations contain only title, author, edition, publisher, and year published. Citations should be used as a guideline and should be double checked for accuracy.

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Grouped Work IDa94b5249-0de7-9661-09d0-c3888d1b55ae
Full titlecurse of cash how large denomination bills aid crime and tax evasion and constrain monetary policy
Authorrogoff kenneth s
Grouping Categorybook
Last Update2021-09-16 20:00:51PM
Last Indexed2021-10-22 06:50:15AM

Hoopla Extract Information

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    [synopsis] => The world is drowning in cash-and it's making us poorer and less safe. In The Curse of Cash, acclaimed economist Kenneth Rogoff explores the past, present, and future of currency, from ancient China to today's cryptocurrencies, showing why, contrary to conventional economic wisdom, paper money surprisingly lies at the heart of some of the world's most difficult problems.

Cash is becoming increasingly marginalized in the legal economy, but there is a record amount of it in circulation-$1.4 trillion in U.S. dollars alone, or $4,200 for every American, mostly in $100 bills-and most of it is used to finance tax evasion, corruption, terrorism, the drug trade, human trafficking, and the rest of a massive global underground economy. Paper money also cripples monetary policy by making it impossible for central banks to lower interest rates significantly below zero, and The Curse of Cash explains why countries must establish effective negative interest rate policies to manage the next financial crisis.

Even if governments take better control of paper currency, perhaps by phasing out large-denomination notes, cryptocurrencies raise old and new issues. Looking to the future of public and private digital currency, The Curse of Cash cites the lesson of history: when it comes to currency, the private sector may innovate but eventually the government regulates and appropriates.
Provocative, engaging, and backed by compelling original arguments and evidence, The Curse of Cash is certain to spark widespread debate.
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    [subtitle] => How Large-Denomination Bills Aid Crime and Tax Evasion and Constrain Monetary Policy
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