Famed Harvard University economics professor Kenneth Rogoff’s latest book, The Curse of Cash, makes a strong case for what he calls a “less cash” society. He advocates ditching all but the smallest banknotes to make it harder for tax evaders, corrupt officials, drug smugglers and other miscreants to operate. It’s an important subject. But in an e-mail exchange, the former IMF chief economist recognizes that we can’t ignore the elephant that just barged into the room.
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