The world is drowning in cash—and it's making us poorer and less safe. In The Curse of Cash, Kenneth Rogoff, one of the world’s leading economists, makes a persuasive and fascinating case for an idea that until recently would have seemed outlandish: getting rid of most paper money.

Even as people in advanced economies are using less paper money, there is more cash in circulation—a record $1.4 trillion in U.S. dollars alone, or $4,200 for every American, mostly in $100 bills. And the United States is hardly exceptional. So what is all that cash being used for? The answer is simple: a large part is feeding tax evasion, corruption, terrorism, the drug trade, human trafficking, and the rest of a massive global underground economy.

As Rogoff shows, paper money can also cripple monetary policy. In the aftermath of the recent financial crisis, central banks have been unable to stimulate growth and inflation by cutting interest rates significantly below zero for fear that it would drive investors to abandon treasury bills and stockpile cash. This constraint has paralyzed monetary policy in virtually every advanced economy, and is likely to be a recurring problem in the future.

The Curse of Cash offers a plan for phasing out most paper money—while leaving small-denomination bills and coins in circulation indefinitely—and addresses the issues the transition will pose, ranging from fears about privacy and price stability to the need to provide subsidized debit cards for the poor.

While phasing out the bulk of paper money will hardly solve the world’s problems, it would be a significant step toward addressing a surprising number of very big ones. Provocative, engaging, and backed by compelling original arguments and evidence, The Curse of Cash is certain to spark widespread debate.

How do we help students work effectively with others from diverse cultural backgrounds? How do we help them understand the world? How do we prepare them for work and life in an era of globalization, volatility, and uncertainty? Empowering Global Citizens offers educators and parents compelling answers to those questions.

This book presents The World Course, a curriculum on global citizenship education designed to equip students with the competencies they need to thrive and contribute to sustainable development in an era of globalization. Drawing on curriculum mapping this book offers a coherent and rigorous set of instructional units to support deep learning of twenty-first-century competencies that develop agency, imagination, confidence, and the skills to navigate the complexity of our times.

Drawing on a rich conceptual framework of global education, The World Course scaffolds the development of global competency drawing on project-based learning and other pedagogies that support personalization. The course expands children’s horizons, helping them understand the world in which they live in all its complexity from kindergarten to high school. This is done through learning activities at the zone for proximal development for each age group, with activities that foster student agency and a growth mindset.