Cash is very easy to hide. It's easy to hoard. It's easy to move, especially these large bills.
Kenneth RogoffMarx'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 RogoffIf you didn't have employers able to pay off the books and off the record safely in cash, you wouldn't have illegal immigration on nearly the scale that we do.
Kenneth RogoffWe Americans are not about to stop borrowing as long as they give us money for nothing.
Kenneth Rogoff