Curses of cash

The world is suffocating from cash. From this we become poorer and more defenseless. In his book "Cursing of cash", Kenneth Rogoff, one of the leading world economists, puts forward an idea that, until recently, would probably seem completely ridiculous: to get rid of most of the total paper money, which is used to avoid taxes, to finance corruption , terrorism, in drug trafficking and trafficking, as well as in other areas of a large -scale international illegal economy. K. Rogoff offers a plan for a gradual reduction in the volume of most of the paper money, provided that small bills and coins are preserved in the circulation for an indefinite long time. The author also analyzes the problems that may arise in the transition period, starting with a potential threat of privacy and price stability and ending with the need to issue free debit cards for a low -income part of the population