Financial Disaster in India: Demonetization Creates Starvation

The propagandists of neoclassical economics tell us that capitalism is a rational system. So let’s see how this works. The head of the Indian government has declared a new era of a cashless economy. This is instituted in a country in which, according to this article, 95% of transactions are made in cash and 53% of Indians have no bank account. These folks are starving because the state has made no transition plans.

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About Bruce Lerro

Bruce Lerro has taught for 25 years as an adjunct college professor of psychology at Golden Gate University, Dominican University and Diablo Valley College. He has applied a Vygotskian socio-historical perspective to his five books: "From Earth-Spirits to Sky-Gods: the Socio-ecological Origins of Monotheism, Individualism and Hyper-Abstract Reasoning", "Power in Eden: The Emergence of Gender Hierarchies in the Ancient World" (co-authored with Christopher Chase-Dunn), "Social Change: Globalization from the Stone Age to the Present", "Lucifer's Labyrinth: Individualism, Hyper-Abstract Thinking and the Process of Becoming Civilized", and "The Magickal Enchantment of Materialism: Why Marxists Need Neopaganism". He is also a representational artist specializing in pen-and-ink drawings. Bruce is a libertarian communist and lives in Olympia, WA.

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