By SIMON CONSTABLE
India's economy crumbled in just weeks, all because of a misguided war on cash. This should be a lesson to anyone pushing for a cashless society.
While Americans were going to the polls on Nov. 8, India's Prime Minister Modi made an announcement that all existing large-denomination bills would need to be deposited in banks in exchange for new bills. The bills in question accounted for almost all the cash in the economy.
The request was startling. The result: India's economy ground to a halt. Read more here.
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