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.
About The Author
Bruce
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 four 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 and Lucifer's Labyrinth: Individualism, Hyper-Abstract Thinking and the Process of Becoming Civilized He is also a representational artist specializing in pen-and-ink drawings. Bruce is a libertarian communist and lives in Olympia WA.