Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | Revolution that wasn&#039;t -Pratap Bhanu Mehta    </title>
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-The Indian Express

Demonetisation was part of a political imagination that is closer to a technocratic authoritarianism.

Revolutions are often paradoxical things. In the minds of the revolutionary, they conjure up images of radical change. But reality is more recalcitrant. It makes..."/>
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-The Indian Express

Demonetisation was part of a political imagination that is closer to a technocratic authoritarianism.

Revolutions are often paradoxical things. In the minds of the revolutionary, they conjure up images of radical change. But reality is more recalcitrant. It makes..." />
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                            <div align="justify">-The Indian Express<br /><br /><em>Demonetisation was part of a political imagination that is closer to a technocratic authoritarianism.<br /></em><br />Revolutions are often paradoxical things. In the minds of the revolutionary, they conjure up images of radical change. But reality is more recalcitrant. It makes a fool of the revolutionary, exacerbating those very things that the revolution seeks to change. Demonetisation has turned out to be no different. It was a populist measure, done in the name of the poor. But like many revolutions done in the name of the poor, it hurt them by extracting the highest price from them.<br /><br />It was a measure driven by an obsessive moralism more than a grasp of practical reality. The moralism forgot that &ldquo;black&rdquo; is not an inherent property of money. It is doubtful that the measure dented the complex webs through which plutocracies shield their money. Indeed, there is some evidence that new laundering mechanisms came into being as a result. It was a measure done in the name of transparency: Data that will help detect tax evasion. But citizen transparency turned out to be a shield to cloak political financing. While the citizens are being transparent to the state, political donations, through anonymous bonds, are being shielded ever more from public scrutiny. So this was a revolution in bad faith.<br /><br />Demonetisation created fantasies of a cashless economy. Digital payments are up somewhat, but cash is back with a vengeance. Demonetisation was supposed to accelerate growth. It might, on a time horizon where causally attributing growth to demonetisation will be an unfalsifiable claim. But in the short run, it dented growth perhaps by as much as two percentage points. The human cost of a two percentage point slowdown in GDP growth is high. Demonetisation was supposed to be revenge on intellectuals, those know-nothings who have held India back. Turns out the predictions of most of those &ldquo;know-nothings&rdquo; were not far off the mark.<br /><br />Please <a href="http://indianexpress.com/article/opinion/columns/demonetisation-pm-modi-notes-ban-one-year-of-demonetisation-4927169/" title="http://indianexpress.com/article/opinion/columns/demonetisation-pm-modi-notes-ban-one-year-of-demonetisation-4927169/">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://indianexpress.com/article/opinion/columns/demonetisation-pm-modi-notes-ban-one-year-of-demonetisation-4927169/" class="re" target="_blank">The Indian Express, 8 November, 2017, http://indianexpress.com/article/opinion/columns/demonetisation-pm-modi-notes-ban-one-year-of-demonetisation-4927169/</a><div class="clear"></div>
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        LATEST NEWS UPDATES | Revolution that wasn&#039;t -Pratap Bhanu Mehta    </title>
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Demonetisation was part of a political imagination that is closer to a technocratic authoritarianism.

Revolutions are often paradoxical things. In the minds of the revolutionary, they conjure up images of radical change. But reality is more recalcitrant. It makes..."/>
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Demonetisation was part of a political imagination that is closer to a technocratic authoritarianism.

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    <h1 class="cat-box-title">Revolution that wasn&#039;t -Pratap Bhanu Mehta</h1>
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                            <div align="justify">-The Indian Express<br /><br /><em>Demonetisation was part of a political imagination that is closer to a technocratic authoritarianism.<br /></em><br />Revolutions are often paradoxical things. In the minds of the revolutionary, they conjure up images of radical change. But reality is more recalcitrant. It makes a fool of the revolutionary, exacerbating those very things that the revolution seeks to change. Demonetisation has turned out to be no different. It was a populist measure, done in the name of the poor. But like many revolutions done in the name of the poor, it hurt them by extracting the highest price from them.<br /><br />It was a measure driven by an obsessive moralism more than a grasp of practical reality. The moralism forgot that &ldquo;black&rdquo; is not an inherent property of money. It is doubtful that the measure dented the complex webs through which plutocracies shield their money. Indeed, there is some evidence that new laundering mechanisms came into being as a result. It was a measure done in the name of transparency: Data that will help detect tax evasion. But citizen transparency turned out to be a shield to cloak political financing. While the citizens are being transparent to the state, political donations, through anonymous bonds, are being shielded ever more from public scrutiny. So this was a revolution in bad faith.<br /><br />Demonetisation created fantasies of a cashless economy. Digital payments are up somewhat, but cash is back with a vengeance. Demonetisation was supposed to accelerate growth. It might, on a time horizon where causally attributing growth to demonetisation will be an unfalsifiable claim. But in the short run, it dented growth perhaps by as much as two percentage points. The human cost of a two percentage point slowdown in GDP growth is high. Demonetisation was supposed to be revenge on intellectuals, those know-nothings who have held India back. Turns out the predictions of most of those &ldquo;know-nothings&rdquo; were not far off the mark.<br /><br />Please <a href="http://indianexpress.com/article/opinion/columns/demonetisation-pm-modi-notes-ban-one-year-of-demonetisation-4927169/" title="http://indianexpress.com/article/opinion/columns/demonetisation-pm-modi-notes-ban-one-year-of-demonetisation-4927169/">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://indianexpress.com/article/opinion/columns/demonetisation-pm-modi-notes-ban-one-year-of-demonetisation-4927169/" class="re" target="_blank">The Indian Express, 8 November, 2017, http://indianexpress.com/article/opinion/columns/demonetisation-pm-modi-notes-ban-one-year-of-demonetisation-4927169/</a><div class="clear"></div>
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        LATEST NEWS UPDATES | Revolution that wasn&#039;t -Pratap Bhanu Mehta    </title>
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-The Indian Express

Demonetisation was part of a political imagination that is closer to a technocratic authoritarianism.

Revolutions are often paradoxical things. In the minds of the revolutionary, they conjure up images of radical change. But reality is more recalcitrant. It makes..."/>
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    <h1 class="cat-box-title">Revolution that wasn&#039;t -Pratap Bhanu Mehta</h1>
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                            <div align="justify">-The Indian Express<br /><br /><em>Demonetisation was part of a political imagination that is closer to a technocratic authoritarianism.<br /></em><br />Revolutions are often paradoxical things. In the minds of the revolutionary, they conjure up images of radical change. But reality is more recalcitrant. It makes a fool of the revolutionary, exacerbating those very things that the revolution seeks to change. Demonetisation has turned out to be no different. It was a populist measure, done in the name of the poor. But like many revolutions done in the name of the poor, it hurt them by extracting the highest price from them.<br /><br />It was a measure driven by an obsessive moralism more than a grasp of practical reality. The moralism forgot that &ldquo;black&rdquo; is not an inherent property of money. It is doubtful that the measure dented the complex webs through which plutocracies shield their money. Indeed, there is some evidence that new laundering mechanisms came into being as a result. It was a measure done in the name of transparency: Data that will help detect tax evasion. But citizen transparency turned out to be a shield to cloak political financing. While the citizens are being transparent to the state, political donations, through anonymous bonds, are being shielded ever more from public scrutiny. So this was a revolution in bad faith.<br /><br />Demonetisation created fantasies of a cashless economy. Digital payments are up somewhat, but cash is back with a vengeance. Demonetisation was supposed to accelerate growth. It might, on a time horizon where causally attributing growth to demonetisation will be an unfalsifiable claim. But in the short run, it dented growth perhaps by as much as two percentage points. The human cost of a two percentage point slowdown in GDP growth is high. Demonetisation was supposed to be revenge on intellectuals, those know-nothings who have held India back. Turns out the predictions of most of those &ldquo;know-nothings&rdquo; were not far off the mark.<br /><br />Please <a href="http://indianexpress.com/article/opinion/columns/demonetisation-pm-modi-notes-ban-one-year-of-demonetisation-4927169/" title="http://indianexpress.com/article/opinion/columns/demonetisation-pm-modi-notes-ban-one-year-of-demonetisation-4927169/">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://indianexpress.com/article/opinion/columns/demonetisation-pm-modi-notes-ban-one-year-of-demonetisation-4927169/" class="re" target="_blank">The Indian Express, 8 November, 2017, http://indianexpress.com/article/opinion/columns/demonetisation-pm-modi-notes-ban-one-year-of-demonetisation-4927169/</a><div class="clear"></div>
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Revolution that wasn't -Pratap Bhanu Mehta

Published on Nov 9, 2017   Modified on Nov 9, 2017

-The Indian Express Demonetisation was part of a political imagination that is closer to a technocratic authoritarianism. Revolutions are often paradoxical things. In the minds of the revolutionary, they conjure up images of radical change. But reality is more recalcitrant. It makes a fool of the revolutionary, exacerbating those very things that the revolution seeks to change. Demonetisation has turned out to be no different. It was a populist measure, done in the name of the poor. But like many revolutions done in the name of the poor, it hurt them by extracting the highest price from them. It was a measure driven by an obsessive moralism more than a grasp of practical reality. The moralism forgot that “black” is not an inherent property of money. It is doubtful that the measure dented the complex webs through which plutocracies shield their money. Indeed, there is some evidence that new laundering mechanisms came into being as a result. It was a measure done in the name of transparency: Data that will help detect tax evasion. But citizen transparency turned out to be a shield to cloak political financing. While the citizens are being transparent to the state, political donations, through anonymous bonds, are being shielded ever more from public scrutiny. So this was a revolution in bad faith. Demonetisation created fantasies of a cashless economy. Digital payments are up somewhat, but cash is back with a vengeance. Demonetisation was supposed to accelerate growth. It might, on a time horizon where causally attributing growth to demonetisation will be an unfalsifiable claim. But in the short run, it dented growth perhaps by as much as two percentage points. The human cost of a two percentage point slowdown in GDP growth is high. Demonetisation was supposed to be revenge on intellectuals, those know-nothings who have held India back. Turns out the predictions of most of those “know-nothings” were not far off the mark. Please click here to read more.

The Indian Express, 8 November, 2017, http://indianexpress.com/article/opinion/columns/demonetisation-pm-modi-notes-ban-one-year-of-demonetisation-4927169/

Tagged with: Demonetisation Note Ban

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