Demonetisation Decoded: A Critique of India's Currency Experiment

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Jayati Ghosh C. P. Chandrasekhar (Dean, School of Social Sciences and Professor at the Centre for Economic Studies and Planning, School of Social Sciences, Jawaharlal Nehru University, New Delhi, India.)

Demonetisation Decoded

A Critique of India's Currency Experiment

Jayati Ghosh, C. P. Chandrasekhar (Dean, School of Social Sciences and Professor at the Centre for Economic Studies and Planning, School of Social Sciences, Jawaharlal Nehru University, New Delhi, India.), Prabhat Patnaik (Emeritus Professor, Centre for Economic Studies and Planning, School of Social Sciences, Jawaharlal Nehru University, New Delhi, India.)

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English

Routledge India
14 January 2020

Regional studies; Economics; Finance & accounting; Business & management; Regional geography

On the night of 8 November 2016, at 8:15 pm, India’s Prime Minister, Narendra Modi, announced in a televised broadcast to the nation that with effect from midnight, currency notes of denominations Rs 500 and Rs 1,000 would no longer be legal tender. In one stroke, this involved the de-recognition of over 86 per cent of the value of Indian currency in circulation with only four hours’ notice.

This important book provides a quick and concise explanation of the goals, implications, initial effects and the political economy of this major demonetisation move by the Government of India. It clarifies key concepts and offers astute economic analysis to guide the reader through the various claims, arguments and critiques that have been made; highlights the complexities of the processes that have been unleashed; and examines the likely outcomes in the long term as well as those that are immediately evident.

Timely and lucid, this book will interest students and researchers in the fields of economics, finance, management, law, politics and governance as well as policy makers, legislators, civil society activists and the media.

By: Jayati Ghosh, C. P. Chandrasekhar (Dean, School of Social Sciences and Professor at the Centre for Economic Studies and Planning, School of Social Sciences, Jawaharlal Nehru University, New Delhi, India.), Prabhat Patnaik (Emeritus Professor, Centre for Economic Studies and Planning, School of Social Sciences, Jawaharlal Nehru University, New Delhi, India.)
Imprint: Routledge India
Country of Publication: United Kingdom
Dimensions: Height: 216mm, Width: 138mm,
Weight: 453g
ISBN: 9780367368036
ISBN 10: 036736803X
Pages: 104
Publication Date: 14 January 2020
Audience: College/higher education , Primary
Format: Paperback
Publisher's Status: Active

1. Introduction 2. The Purported Logic of Demonetisation 3. Design and Implementation of Demonetisation 4. Initial Outcomes 5. Macroeconomic Consequences 6. Inventing a New Utopia 7. Conclusion

Jayati Ghosh is Professor at the Centre for Economic Studies and Planning, School of Social Sciences, Jawaharlal Nehru University, New Delhi, India. C. P. Chandrasekhar is Dean, School of Social Sciences, and Professor at the Centre for Economic Studies and Planning, School of Social Sciences, Jawaharlal Nehru University, New Delhi, India. Prabhat Patnaik is Emeritus Professor at the Centre for Economic Studies and Planning, School of Social Sciences, Jawaharlal Nehru University, New Delhi, India.

Reviews for Demonetisation Decoded: A Critique of India's Currency Experiment

It is noteworthy for lucidly cutting through the ballyhoo around demonetisation, its intended and actual impact, and flagging the larger risks that this reform experiment-'where many who have suffered damage still see their experience as necessary pain to be endured for long term gains to the nation'-throws up for India's democracy. Vikas Dhoot, The Hindu