This article was originally published on the Brown Political Review website, December 3, 2017.

On November 8th, 2016, India’s Prime Minister, Narendra Modi, announced the demonetization of the Indian economy. This move, ostensibly to root out corruption and black money, has been unsuccessful. Overnight, ₹500 and ₹1000 currency bank notes — which made up 86% of the economy — became worthless, and people stood in lines at ATMs for hours to deposit their old, soon-to-be-useless money in exchange for money of smaller denominations and the newly minted currency. This contentious economic move was meant to shock the system, so that…

Annie Lehman-Ludwig

Brown ’20 — membership associate at the Global Network Initiative; former associate section manager and senior staff writer at Brown Political Review

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