4 ms·

"Seriously? In a populace of a billion the death of 100 people for such a huge economic move is close to nothing." This might be a stat for you but if it was y

"Seriously? In a populace of a billion the death of 100 people for such a huge economic move is close to nothing." This might be a stat for you but if it was your kin maybe you won't feel the same way.

shripadk 10y ago
It's not a stat for me. I do sympathize. But stretching this argument to say that demonetization is a failure is ridiculous. In that way, in India, the deaths due to accidents are close to 1,37,000 in 2013 alone. Should we call transportation a failure and put a halt to every mode of transportation (be it autos, cars, buses, trains, planes etc) just because of this statistic or should we work towards improving the system? I compared demonetization carried out by India with demonetization carried out by other countries. When I see that there were large-scale riots and coup d'état in other countries but no such thing happened in India I will definitely take this as a success. You want to have a narrow negative perspective of 100 people dying you can continue to have that. I have a wider positive perspective that no large-scale riots or coup d'état happened that would have sent the Indian economy in a downward spiral or worse: civil war.
- bitwiseand 10y ago
  "Should we call transportation a failure and put a halt to every mode of transportation (be it autos, cars, buses, trains, planes etc) just because of this statistic or should we work towards improving the system?" Are you actually comparing currency to transportation ? People have a choice in the mode of transport. Your villager however can't use bitcoins because his Rs.500 note isn't legal tender. "I have a wider positive perspective that no large-scale riots or coup d'état happened that would have sent the Indian economy in a downward spiral or worse: civil war." Your standards for a successful policy are shockingly low. And stop lying, you have no sympathy, you just called a 100 deaths as having a "narrow perspective". Do you also disagree with the countless economists that have criticized the move based on theory and facts. Or is that "foreign propaganda" for you ?
  - shripadk 10y ago
    > Do you also disagree with the countless economists that have criticized the move based on theory and facts. Or is that "foreign propaganda" for you ? I definitely disagree with the "countless economists" mainly because economists love status-quo and despise disruption. We had "countless economists" say that the Telecom revolution in the 1990's was a big burden on Indian exchequer and a waste of resources. Today every Indian is thankful for the Telecom revolution and the introduction of computing as it created huge job opportunities. Economists have their place. They are not policy pundits. We had possibly the best economist in India as the Prime Minister for 10 years. He failed miserably in implementing any policy decision (including his party's own pet projects) leading to policy paralysis. Read about him here: http://timesofindia.indiatimes.com/india/Time-magazine-dubs-Manmohan-Singh-as-underachiever/articleshow/14743927.cms http://timesofindia.indiatimes.com/india/Time-magazine-dubs-... > Are you actually comparing currency to transportation ? People have a choice in the mode of transport. Your villager however can't use bitcoins because his Rs.500 note isn't legal tender. It doesn't matter the choice of transport if you are dying in huge numbers: 1,37,000 accidents in just 1 year. > Your villager however can't use bitcoins because his Rs.500 note isn't legal tender. This shows your absolute lack of ground knowledge about India. Why should a villager use bitcoins when he can use PayTM wallets or even BHIM app (using Unified Payment Interface) that was introduced by the Indian government. Read about it here: http://indiatoday.intoday.in/story/paytm-on-boards-small-merchants-in-shillong-farmers-markets/1/834427.html http://indiatoday.intoday.in/story/paytm-on-boards-small-mer... > Your standards for a successful policy are shockingly low. And stop lying, you have no sympathy, you just called a 100 deaths as having a "narrow perspective". From your comment it is quite clear that you don't live in India. So stop acting like a know-it-all. I live in India and I can differentiate between propaganda and reality.
    - bitwiseand 10y ago
      Do you really think people will install and use PayTm apps overnight in villages ?. Was there any research done on mobile literacy or making things easier in rural areas ? Also, you wish to ignore facts and reasoning posted by economists all in the name of "disruption". And FYI The Planning Commission of India AKA "Policy Pundits" consists of renowned economists.

shripadk 10y ago

It's not a stat for me. I do sympathize. But stretching this argument to say that demonetization is a failure is ridiculous. In that way, in India, the deaths due to accidents are close to 1,37,000 in 2013 alone. Should we call transportation a failure and put a halt to every mode of transportation (be it autos, cars, buses, trains, planes etc) just because of this statistic or should we work towards improving the system? I compared demonetization carried out by India with demonetization carried out by other countries. When I see that there were large-scale riots and coup d'état in other countries but no such thing happened in India I will definitely take this as a success. You want to have a narrow negative perspective of 100 people dying you can continue to have that. I have a wider positive perspective that no large-scale riots or coup d'état happened that would have sent the Indian economy in a downward spiral or worse: civil war.

bitwiseand 10y ago
"Should we call transportation a failure and put a halt to every mode of transportation (be it autos, cars, buses, trains, planes etc) just because of this statistic or should we work towards improving the system?" Are you actually comparing currency to transportation ? People have a choice in the mode of transport. Your villager however can't use bitcoins because his Rs.500 note isn't legal tender. "I have a wider positive perspective that no large-scale riots or coup d'état happened that would have sent the Indian economy in a downward spiral or worse: civil war." Your standards for a successful policy are shockingly low. And stop lying, you have no sympathy, you just called a 100 deaths as having a "narrow perspective". Do you also disagree with the countless economists that have criticized the move based on theory and facts. Or is that "foreign propaganda" for you ?
- shripadk 10y ago
  > Do you also disagree with the countless economists that have criticized the move based on theory and facts. Or is that "foreign propaganda" for you ? I definitely disagree with the "countless economists" mainly because economists love status-quo and despise disruption. We had "countless economists" say that the Telecom revolution in the 1990's was a big burden on Indian exchequer and a waste of resources. Today every Indian is thankful for the Telecom revolution and the introduction of computing as it created huge job opportunities. Economists have their place. They are not policy pundits. We had possibly the best economist in India as the Prime Minister for 10 years. He failed miserably in implementing any policy decision (including his party's own pet projects) leading to policy paralysis. Read about him here: http://timesofindia.indiatimes.com/india/Time-magazine-dubs-Manmohan-Singh-as-underachiever/articleshow/14743927.cms http://timesofindia.indiatimes.com/india/Time-magazine-dubs-... > Are you actually comparing currency to transportation ? People have a choice in the mode of transport. Your villager however can't use bitcoins because his Rs.500 note isn't legal tender. It doesn't matter the choice of transport if you are dying in huge numbers: 1,37,000 accidents in just 1 year. > Your villager however can't use bitcoins because his Rs.500 note isn't legal tender. This shows your absolute lack of ground knowledge about India. Why should a villager use bitcoins when he can use PayTM wallets or even BHIM app (using Unified Payment Interface) that was introduced by the Indian government. Read about it here: http://indiatoday.intoday.in/story/paytm-on-boards-small-merchants-in-shillong-farmers-markets/1/834427.html http://indiatoday.intoday.in/story/paytm-on-boards-small-mer... > Your standards for a successful policy are shockingly low. And stop lying, you have no sympathy, you just called a 100 deaths as having a "narrow perspective". From your comment it is quite clear that you don't live in India. So stop acting like a know-it-all. I live in India and I can differentiate between propaganda and reality.
  - bitwiseand 10y ago
    Do you really think people will install and use PayTm apps overnight in villages ?. Was there any research done on mobile literacy or making things easier in rural areas ? Also, you wish to ignore facts and reasoning posted by economists all in the name of "disruption". And FYI The Planning Commission of India AKA "Policy Pundits" consists of renowned economists.