Next video:
Loading the player...

Do $100 bills encourage tax evasion, drug deals and prostitution? Harvard economics professor and author of The Curse of Cash Kenneth Rogoff talked to Investopedia about his take on scrapping the US' largest denomination. 

Related Articles
  1. Insights

    Factor High Interest Rates Into Your Investing

    Harvard economist and author Ken Rogoff discusses rising interest rates and the global economy.
  2. Trading

    Exchange Rate: My Favorite Term

    What are exchange rates and why are they important to investors and economists?
  3. Insights

    How a Chess Champion Became a Renowned Economist

    Harvard economist and former Chief Economist for the IMF, Kenneth Rogoff, shares his journey from high school chess champion to being one of the world's leading economic minds.
  4. Insights

    Illegal Activities That Could Help The Economy

    Legalizing prostitution and street drugs nationwide may actually benefit the economy.
  5. Insights

    Subpar Returns Spur Layoffs at Harvard Endowment

    After a decade of poor returns, Harvard reportedly is moving most of its $35.7 billion endowment to outside managers, cutting half its in-house staff
  6. Insights

    Are We Setting Ourselves Up For Another Financial Crisis?

    “More money has been lost because of four words than at the point of a gun. Those words are, ‘This time is different.’”
  7. Investing

    Harvard Among Schools Facing Crunch as Gifts Soar

    Harvard Campus: The value of college endowments fell even after raising a record $41 billion
  8. Insights

    3 Billionaires Who Graduated From Harvard

    Learn more about three of the many billionaires Harvard has produced and how they have remained loyal by donating hundreds of millions to their alma mater.
  9. Taxes

    5 Famous Tax Cheats

    These five famous Americans tried to dodge the taxman and got caught. Find out who they were and what they owed.
  10. Taxes

    Tax Evasion Plagues Greece

    Contrary to what some may think, Greece’s debt problems are not due to extravagant spending by the government, but to insufficient revenues caused by rampant tax evasion estimated at 20 billion ...
Hot Definitions
  1. Liquid Asset

    An asset that can be converted into cash quickly and with minimal impact to the price received. Liquid assets are generally ...
  2. Nostro Account

    A bank account held in a foreign country by a domestic bank, denominated in the currency of that country. Nostro accounts ...
  3. Retirement Planning

    Retirement planning is the process of determining retirement income goals and the actions and decisions necessary to achieve ...
  4. Drawdown

    The peak-to-trough decline during a specific record period of an investment, fund or commodity. A drawdown is usually quoted ...
  5. Inverse Transaction

    A transaction that can cancel out a forward contract that has the same value date.
  6. Redemption

    The return of an investor's principal in a fixed income security, such as a preferred stock or bond; or the sale of units ...
Trading Center