Its been lovely to speak with Forbes Contributor Wade Shepard, in his series on Demonetisation crisis in India. These are two more articles which came out earlier this month:
Excerpts of my interview from the above article:
“The unbanked and informal economy is hard hit,” explained Monishankar Prasad, the New Delhi-based author and editor for Alochonaa, an Australian current events publication. “The poor do not have the access to structural and cultural resources to adapt to shock doctrine economics. The poor were taken totally off guard and the banking infrastructure in the hinterland is rather limited. The tech class has poor exposure to critical social theory in order to understand the impact on the ground. There is an empathy deficit.”
“A lot more retail outlets are accepting e-wallets, including my laundry provider and my dabbawala,” commented Prasad. “This is revolutionary, and survival of the fittest.”
“This is a public sector innovation unthought of in history. A cultural-economic revolution in the making!” exclaimed Monishankar Prasad, a New Delhi-based author and editor, about India’s demonetization initiative and subsequent drive towards developing a cashless economy.