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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