Re:India demonetisation fails to purge black money
by pavanred on Thursday August 31, 2017 @02:04PM
(#15142367)
I guess question is less of was it successful but rather was it necessary and did the move do any good at all?
One thing I can't understand is, when I look up all the countries/regimes/dictators in history that have tried demonetization, and almost always it was done for the same reason - curbing corruption, black money, counterfeiting etc., and generally it resulted in people losing confidence in the institutions/governments, no real dent in corruption, counterfeiting even decades later. Unless I missed something, it just puzzles me why we would try it now and expect a different result.
One thing I can't understand is, when I look up all the countries/regimes/dictators in history that have tried demonetization, and almost always it was done for the same reason - curbing corruption, black money, counterfeiting etc., and generally it resulted in people losing confidence in the institutions/governments, no real dent in corruption, counterfeiting even decades later. Unless I missed something, it just puzzles me why we would try it now and expect a different result.