June 26, 2017: India tried [a] to reduce the use of cash in its economy by eliminating, overnight, two of its most widely used bills in what was called demonetization. [a] http://indianexpress.com/article/india/india-news-india/narendra-modi-prime-minister-address-to-the-nation4364609/ While the effort – initially explained as an attempt to curb “black money” – has been a failure in many respects [b], it was part … Continue reading Why a ‘cashless’ society would hurt the poor: A lesson from India