# Professor Kim Schoenholtz's blog post on the significance of paper currency is highlighted

1 Faculty News February 29, 2016 ![Los Angeles Times logo](/sites/default/files/styles/246w/public/assets/images/con_032838.jpg?itok=d4eVwIbD)>

Excerpt from [The Los Angeles Times](http://www.latimes.com/business/hiltzik/la-fi-mh-would-eliminating-the-100-bill-really-cut-crime-20160229-column.html) -- "And Stephen Cecchetti of Brandeis University and [Kermit Schoenholtz](http://www.stern.nyu.edu/faculty/bio/kim-schoenholtz) of New York University observe, the privacy of financial transactions should be seen on balance as a virtue. 'We are what we buy,' they've written,'so protecting our privacy requires controlling information about our payments.'"

[Read more](http://www.latimes.com/business/hiltzik/la-fi-mh-would-eliminating-the-100-bill-really-cut-crime-20160229-column.html)