In the Ivory Tower, computers never crash.

In a curious, nay bizarre, article in today’s FT (p9), Kenneth Rogoff of Harvard argues that there is too much paper money (i.e. cash) around, which is about $4,000/capita in the developed world.  (His recent book argued there was too much debt.)  He proposes doing away with it, beginning with the $100 dollar bill.  This will increase the government’s ability to monitor and, eventually, control every aspect of our spending, which he views as a good thing.