When India Killed Off Cash Overnight

Bhaskar Chakravorti, the dean of global business at The Fletcher
School at Tufts University, analyzes the economic impact of India’s
unprecedented demonetization move in 2016. With no advance warning,
India pulled the two largest banknotes from circulation, notes that
accounted for 86% of cash transactions in a country where most
payments happen in cash. Chakravorti discusses the impact on
consumers, businesses, and digital payment providers, and whether
Indian policymakers reached their anti-corruption goals. He’s the
author of the article “One Year After India Killed Off Cash, Here’s
What Other Countries Should Learn From It.”