The Curse of Cash

Review

One of Bloomberg's Best Books of 2016

One of Financial Times (FT.com) Best Economics Books of 2016

Selected for Canada's Financial Post Best Personal Finance and Economics Books of 2016

Longlisted for the Financial Times and McKinsey Business Book of the Year 2016

In a brilliant and lucid new book, The Curse of Cash, the Harvard economist Kenneth Rogoff gives a fascinating and thorough account of the argument against cash.---John Lanchester, New York Times Magazine

An excellent book on the history and the origins of cash, which also goes into much depth on the issue of cash constraining monetary policy.---Jon Hartley, Forbes.com,

The great accomplishment of his book is that his arguments are convincing. . . . It's clear and coherent, and even if you disagree with him in the end, chances are you'll think a little bit differently about something of which most of us give no thought whatsoever.---Bethany McLean, Washington Post

In a witty new book, The Curse of Cash, economist Kenneth Rogoff argues the human race would be better off without paper money. He's onto something.---Hiawatha Bray, Boston Globe

[The Curse of Cash] makes the case for encouraging the U.S. government to drastically scale back on $100 bills in circulation. The book . . . offers a thought-provoking theory for phasing out paper money, not eliminating it.---Susan Tompor, Detroit Free Press

Meticulously written, [The Curse of Cash] covers everything needed for such a monetary reform. But the book is not excessively polemical. Rogoff details almost all the arguments against tinkering with paper currency, then labors to refute or defuse them.---Peter Garber, Finance & Development

From the Back Cover

"A fascinating and important book. Kenneth Rogoff sets out a compelling and wide-ranging argument for weaning our economies off paper money."--Ben S. Bernanke, former chairman of the U.S. Federal Reserve

"Highly engaging, thought-provoking, and persuasive, The Curse of Cash makes the case that time is running out for paper money. As Kenneth Rogoff has done before, this book sets the standard on a problem that will only become more important; it is also sure to influence discussions about the ability of central banks to deliver growth and financial stability. This is a must-read."--Mohamed El-Erian, author of The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse

"Should we become a largely cashless society? Kenneth Rogoff makes a strong case that we should in this wide-ranging book, which touches on history, crime, technology, and monetary policy. Clearly and persuasively argued, this is a must-read."--Linda Yueh, author of China's Growth: The Making of an Economic Superpower

"In this fascinating and important book, Kenneth Rogoff argues forcefully that advanced economies should phase out cash because it facilitates crime and constrains policy. With a wealth of data and clear explanations, the book demystifies central banking and negative interest rates, thus elevating the discussion of both."--Anat R. Admati, coauthor of The Bankers' New Clothes: What's Wrong with Banking and What to Do about It

"Most people like cash. Not Kenneth Rogoff--for reasons ranging from its benefits to organized crime to the way it impedes antirecessionary monetary policy. He's written a tour de force explaining why. Reading it will make you both smile and think."--Alan S. Blinder, author of After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead

"Ken Rogoff led the way in stressing the now widely accepted public policy benefits of eliminating large-denomination currency. His new book provides cogent arguments for an even bolder step: eliminating cash altogether. The proposal could not be more timely, and his arguments deserve consideration by policymakers and the general public alike."--Michael Woodford, Columbia University

"The Curse of Cash is brilliant and insightful. In addition to giving a vivid picture of the cash-crime nexus, The Curse of Cash is the book everyone should read about negative interest rates."--Miles Kimball, University of Michigan

"Original and fascinating, The Curse of Cash makes a totally convincing argument that advanced economies have many good reasons for phasing out paper currency as soon as possible. More clearly and with more evidence than anyone before, Kenneth Rogoff makes the case that cash feeds illegal behavior--and that illegal behavior probably now accounts for the majority of cash in circulation. Raising challenging questions, this book will be of wide interest."--John Kay, author of Other People's Money: The Real Business of Finance