Showing posts from November, 2016

Demonetisation; or The Confusions of a Failed Economist

I’m no economist, despite an undergrad degree that claims the contrary. So, to be honest, I fail to understand the rationale behind the demonetization move. I mean, I’m sure (and hopeful) that someone somewhere has thought this through and that somewhere in the longterm cost-benefit analysis, the pains of poor people going without meals and real middle class people (Not my friends on social media – all of us must now admit that our origins may have been middle class but we are firmly in the fatcats class) dying while queueing up to withdraw money for their daughter’s weddings will all prove to have been worth it. Hopefully the epitaph will read ‘Never before have so few sacrificed so much (55 lives at present count) for so many’ and not the other way around (Never before have so many sacrificed so much for so little)!
But as of now, I’m honestly stumped. Can someone explain to me how this scheme is supposed to benefit the country? There were a few rationalisations given: 1        1. R…