Assessing Demonetisation: Minsky Provides the Link That Traditional Economics Misses

Swarajya, December 30, 2016. All Rights Reserved.

With the end of demonetisation in sight, and partial remonetisation underway, it may be a good time to reassess the much-maligned economics of demonetisation.

Over this 50-day period, several economists have denounced demonetisation as poor economics, so much so that reading them has made us feel like we were experiencing mass famine. This, despite the fact that even the hard, early days were nearly-incident-free in spite of the enormity of the scale of operations….

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