Evaluating India’s Radical Experiment In Eliminating High-Value Currency
Economist Bhaskar Chakravorti says even after all the drama, almost all of the cash in circulation in India made its way back into the banking system.
BHASKAR CHAKRAVORTI: Not all of that was legal cash. It just happened to be the case that India has – is extremely innovative in getting it on constraints.
STACEY VANEK SMITH: But the public loved it. Modi’s approval rating has continued to climb. It’s just amazing to me that people aren’t angry about this. Like, why do you think that people are supportive of this move?
CHAKRAVORTI: Because populism is a strange thing, right?