demonetisation

Cash is medieval, cards break vicious economic cycles

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Cards provide better security and don’t face the problem of providing change.Written by Neelkanth Mishra | Updated: December 30, 2016 6:33:48 am (This was published in the Indian Express: link) There is something medieval about cash: In providing the medium of exchange economies needed for transactions, rulers made a hefty profit converting pieces of paper … Read more

Risk and some disorder

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There had been a clamour for radical reforms. Demonetisation shows what real reforms feel like.Written by Neelkanth Mishra | Updated: November 16, 2016 5:07:57 am (This was published in the Indian Express: link) The announcement that currency notes of Rs 500 and Rs 1,000 denomination would no longer be legal tender brings down the currency … Read more