Cash is very easy to hide. It's easy to hoard. It's easy to move, especially these large bills.
Kenneth RogoffThe Indians and Chinese have become brilliant chess professionals. They get on a plane and play all over the world. This has led to dramatic pressure on incomes. Nowadays, the best chess player in Argentina can no longer make a living playing chess.
Kenneth RogoffIt comes as no surprise that average Americans have a different perception of the economy than (US President) George W. Bush and his friends. They can play around with statistics as much as they want, but it's clear that we have an unfair distribution of wealth.
Kenneth RogoffWorkers are not being exploited. But if their share of growth doesn't increase, this could be a potential cause of social tension worldwide.
Kenneth Rogoff