Joshua R. Hendrickson talks about how to make high-denomination notes that discourage crime and reward lawful behavior.
William J. Luther says it matters a lot more than we might realize.
William J. Luther argues that we shouldn't tax currency at all. We should modestly reward holding it, through a bit of deflation.
Joshua R. Hendrickson says maybe they don't.
James McAndrews argues for higher-denomination currency for reasons of privacy and convenience.
Macroeconomics and organized crime might seem like different subjects, but high-denomination currency unites them.