Ken Rogoff Makes the Case for Eliminating Paper Money

The video discusses Ken Rogoff's book 'The Curse of Cash', focusing on the issues with large denomination notes and their role in crime and tax evasion. It compares cash usage in Europe and the US, highlighting the benefits of reducing large notes. The impact of technology on currency, such as plastic notes, is explored, along with the potential for negative interest rates as an economic policy tool.

What is one of the main ideas discussed in 'The Curse of Cash'?

• Increasing the circulation of large denomination notes

• Eliminating large denomination notes to reduce crime

• Promoting the use of cash in all transactions

• Encouraging the use of cryptocurrency

Why do some people oppose the idea of reducing cash circulation?

• They believe it will increase inflation

• They fear it will cause a recession

• They have an emotional attachment to cash

• They think it will lead to higher taxes

Which region is noted to have a bigger problem with tax evasion due to cash usage?

• Asia

• South America

• Africa

• Europe

What is the suggested maximum denomination for US currency to combat crime?

• $100

• $50

• $20

• $10

What is a potential benefit of using plastic currency?

• It is less durable than paper currency

• It is more expensive to produce

• It can be easily counterfeited

• It allows for easier tracking of serial numbers

What is a collateral benefit of reducing cash according to the discussion?

• Higher interest rates for savings

• Enhanced effectiveness of negative interest rates

• More government control over fiscal policy

• Increased cash flow in the economy

What is the stance on helicopter money in the discussion?

• It is recommended for immediate implementation

• It is considered a viable monetary policy

• It is a new concept introduced by Ken Rogoff

• It is seen as an illusion and not effective