The Curse of Cash

Ken Rogoff

05/03/2017 3:30 pm
Kings Place, Hall 1

One of the world’s leading economists, Harvard Professor and chess grandmaster, Kenneth Rogoff, makes a persuasive case for ridding the world of high value 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 U.S. dollars alone, mostly in $100 bills. 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 conversation with the Chief Economist of the Bank of England, Andrew Haldane.

Ken Rogoff

Andrew Haldane