ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

DemonetizationSubscribe to Demonetization

Exhausting the Limits of the Possible

In his age group, Vineet Kohli was surely one of the finest heterodox economists in India. With deep interests in structuralist and post-Keynesian macroeconomics, he researched the linkages between financial markets and the real economy, the impact of financial liberalisation on credit flows to the disadvantaged, and the mutual causality between income distribution and growth. A popular teacher, staunch Marxist and warm friend, Vineet will be dearly missed.

Economic Consequences of Demonetisation

The nature of money supply and its link with transactions in the economy are discussed, with necessary modifications on account of the presence of the unorganised sector and the black economy. This helps incorporate differentiation in the Indian economy that is useful to understand and analyse the impact of demonetisation.

Demonetisation

The stated reasons for the 8 November announcement to demonetise ₹500 and ₹1,000 notes such as eradication of black money, counterfeit currency, and paving the way for a cashless society are examined. These issues are not addressed by demonetisation and do not justify the suffering this move has unleashed on the poor and the middle classes.
Back to Top