Prof. Prabhat Patnaik Speaks on Demonetisation and Democracy

Prof. Prabhat Patnaik speaks at the second Annual Lecture of Centre for Policy Analysis on Demonetisation and Democracy. The event was held on 5th february, 2017.
According to him, the ‘thought through idea’ behind the implementation of demonetisation has failed to accomplish its aim. The attack on black money has backfired since almost all the currency demonetised is back in banks (claimed by reports). It was not a blow to the black economy at all and therefore the question arises, why was such a drastic step taken in the first place? Watch the lecture for a detailed insight on demonetisation and democracy, by Prof. Prabhat Patnaik.