Marx's theory that only capitalists benefit from capitalism and workers are exploited was completely wrong. Nothing could have been further from the truth. Workers earned more as economies grew.
Kenneth RogoffPeople aren't looking at how they're doing, but rather at how their neighbors are doing and at their own place in society.
Kenneth RogoffWe all use cash in our everyday life, but we don't use hundred-dollar bills. We're not using 500-euro notes. And yet these account for mountains of cash out there. I think they're being used in tax evasion and by criminals of all types.
Kenneth Rogoff