# Professor Kim Schoenholtz's blog post on the pros and cons of eliminating paper currency is highlighted

1 Faculty News September 23, 2015 ![Financial Times logo](/sites/default/files/styles/246w/public/assets/images/uat_025699.jpg?itok=5SpaxEbn)>

Excerpt from [Financial Times](http://www.ft.com/intl/cms/s/0/ffdb3034-610e-11e5-9846-de406ccb37f2.html#axzz3mh2s1xZW) -- "The anonymity of cash helps to free people from their governments and some criminality is a price worth paying for liberty, as professors Stephen Cecchetti and [Kermit Schoenholtz](http://www.stern.nyu.edu/faculty/bio/kim-schoenholtz) observe. It is better if the government creates trusted, anonymous notes and coins rather than some private agent."

[Read more](http://www.ft.com/intl/cms/s/0/ffdb3034-610e-11e5-9846-de406ccb37f2.html#axzz3mh2s1xZW)