Prabhat Patnaik: Govt's Decision to Demonetise Currency Shows They Don't Understand Capitalism

[@VijayNinel]

If trade unions go for strike for a day then the media is quick to point out how many thousands of crores were lost due to normal business being affected. No one is pointing out how badly this undeclared emergency is costing business. Normal cash flow is badly affected and small businesses are worst hit.

[@AnandKhanna17]

Great job on the video. The questions asked were really probing and the answers by the Professor were hugely enlightening. Thank You :)

[@rinkuat1]

Heena! This is the only video that really asked the right queations and explained the reality from the roots. trust me !! you are way better than any TV premium news channel in Our Country.. (India) we need better people like you who would invest time and money into reality check and not like those TRP greedy crap... im so proud if this content you produced..wat to go

[@NewBeginning2020]

Arey couldnt "the wire" have sent someone more knowledgable and thoughtful to interview prabhat patnaik

[@radikal8485]

Exactly, the interviewer kept rephrasing the same question even after Prof. had explained that "black money" was a flow and not a stock problem.

[@prateekagrawal389]

a big fan of you sir...thanks "the wire" for this!!

[@ashishrprastogi]

More educated people think too long, but they can't take right move at right......

[@aishikgupta]

Prabhat Patnaik is talking 'cashless' in terms of cheque transactions, But what about Digital Payments, what about Unified Payment Interface introduced by most banks facilitating payments using mobile payment apps, digital wallets etc..?

[@radikal8485]

It'll (BM) still remain a flow problem. Not to mention, you'll have the added issues of privacy violation/access when it comes to electronic gateways.

[@chandramohanr7306]

ya you gotcha. Everybody in my village are using those methods for about last ten years from one of the few smartphones everyone has...

[@aishikgupta]

Chandramohan R no I am talking about only people who have it in urban India. Not referring to villages. I am saying that 'cashless' refers to even that as well. I agree with him totally. But in the concept of cashless only cheques should not come in mind. even all these UPI payments as well ... then why did they launch in the first place. btw price of smartphones is exponentially coming down. but that's a different story.

[@aishikgupta]

Chandramohan R My dear Sir, Plz check this link. Noone is asking rural India to purchase an Apple iphone but data shows smartphone penetration in rural India has gone up. next time dont assume and comment. BTW smartphone is cheaper than a tractor and the price of smartphones is exponentially coming down with increasing utility. when they will see a business utility in it they will buy. everyone doesn't treat smartphone as a status symbol. There are business benefits associated with it. www.dailymail.co.uk/indiahome/indianews/article-3681418/Mobiles-mobility-key-rural-India-villagers-spend-smartphones-cars-ever.html

[@shreevatsarao3260]

Mr professor do you have any solution for inconvenience ??? sorry u are JNU professor who hates BJP .... Fatima madam waiting for your next verry informative video..

[@SpeckInTheUniverseMihirSemwal]

Hope, this reaches all. Quite well explained by Mr.Patnaik. To sum it up - "A lack of understanding about Capitalism in the Government."

[@SohamSinha]

I cannot agree on the counterfeit currency issue. I mean when you try introducing new notes while old notes are still in market, then also the old notes might just keep flowing in the market. This kind of demonetisation is a better way to address this particular issue. However, I agree that it could have been well planned.

[@abhisheksingh-hd4od]

she looks like economist jayati ghosh......

[@CD-123]

abhishek singh yes I thought she is the same person and just got hairs coloured

[@yashagar4443]

very true

[@VinayShivakumar]

I don't think you understand markets. Demonetization does not eliminate black money . It just increases the cost of holding and doing black money transactions. The white money guy is not going to convert the money of the black money guy for free.

[@debiprosadsur4995]

Vinay Shivakumar What difference does it make? after all, it is an ill gotten money... as the professor explained that black money is not a static heap of currency but rather a continuously flowing investment... you are just eating into a part of the profit... Moreover, this step has made otherwise honest people dishonest, if we assume deposits in Jan Dhan Accounts are mostly black then 22 Crore people in India are now black money operators...

[@sans2019]

Chasing the chimera !

[@arishkhan-lz8yz]

no bhakts watching this video... they are busy cursing someone for raising question on some video that stinks of modi !!!

[@yashagar4443]

people supporting modi are flaunting there appalling economic illiteracy.......

[@pratiktembhekar1996]

Demonitization was a Failure

[@CrossingRubico]

focus on the message...for the truth barely gets to see the light...

[@DrSiddharthaGoswami]

really interesting prof. I am not a suporter of anyone. but I can defeat you in debate being a doctor.. And hence you also know that you are telling manythings non factual n non statistical

[@dnranjit]

Wow...now we are learning capitalism from the JNU commies and socialist! The wire always an axe to grind with Vardarajan as its founder.

[@vikaslatyan]

This guys is taking nonsense. I agree it's inconvenience for many people but being a economist he doesn't know the % of people pay taxes. Government can't catch everyone but it's a step and I hope government steps and catch all those dealing in black.

[@ravikanthpeduri]

Stupid do you think Black holder don't do this already .. already do it but do so imperceptibly now they are forced to mistakes which would mean they will take risks normally they wouldn't take and every chance of getting cought