Big Bills = More Crime

Imagine two shady characters, making a swap over briefcases. One ends up with cocaine or something, but the other opens his briefcase to reveal $100,000 in cash. Probably happens more frequently than you think. Now imagine that the $100 bill no longer exists and they want to make the same transaction. That dude’s got to lug around five briefcases now and that’s not suspicious at all. I’m making light of the situation, but a recent study by Peter Sands of Harvard gives a good argument that terminating┬ábig denomination notes would hurt criminal activity, and have little to no negative effects Continue reading Big Bills = More Crime