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Planet Money had a great two part episode[1] on this and how it came about, and the guru who advocated it. Particularly fascinating was the gigantic PowerPoint
by paragraft 8y ago
Planet Money had a great two part episode[1] on this and how it came about, and the guru who advocated it. Particularly fascinating was the gigantic PowerPoint presentation they embedded that formed the pitch deck for the proposal. It's one of my go-to examples now for why sometimes engineering-style systems thinking can be disastrous upon meeting reality, particularly in something as people-driven as an economy.
1: https://www.npr.org/sections/money/2017/05/10/527803742/episode-770-when-indias-cash-disappeared-part-one https://www.npr.org/sections/money/2017/05/10/527803742/epis...
- breitling 8y agoI think I listed to this when it came out over a year ago. The most unbelievable part of it for me was when the host asks about the difficulties endured by a poor farmer unable to exchange his dead wife's life savings (approx $50), the person just dismisses it saying, "he's a poor guy, he is used to difficulties" (paraphrasing here). India is taking advice from those sort of people who have no care whatsoever for the poor. Just unbelievable! Can't imagine how difficult life must have been for these people.
- Fjolsvith 8y agoReminds me of Richard Garriott's talk about how players destroyed the economic model in Ultima Online on the very first day of live play. https://www.youtube.com/watch?v=KFNxJVTJleE https://www.youtube.com/watch?v=KFNxJVTJleE
- duxup 8y agoOnce you hit the point of "well then people will think X and choose to Y" ... all bets are off.