Harvard Professor Creates Blueprint for Ending Cash in US; Calls for Immediate Phasing Out of $20 Bills

‘The attack on cash has entered a new stage.
Kenneth Rogoff, the Thomas D. Cabot Professor of Public Policy at Harvard University and the former chief economist of the International Monetary Fund, is out with an essay this morning in the Wall Street Journal titled,The Sinister Side of Cash.
Rogoff writes:
When I tell people that I have been doing research on why the government should drastically scale back the circulation of cash—paper currency—the most common initial reaction is bewilderment. Why should anyone care about such a mundane topic? But paper currency lies at the heart of some of today’s most intractable public-finance and monetary problems. Getting rid of most of it—that is, moving to a society where cash is used less frequently and mainly for small transactions—could be a big help…’
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