Thanks for the response. I completely understand that people look after themselves in times of crises. In fact, I completely understood the behaviours I witnessed. I get it, you do whatever you have to do in times of crises. And no doubt,I would be the same, you get on with your day to day life.
It's the action of the government that simply don't make sense to me, I outlined the problems that were very foreseeable and we will see how they pan out. The reasons for which they did it I'm still unclear, at first it was black money, corruption and to stop terrorism etc. And now it's digitizing cash.
You wanted solutions?Why not reduce the tax rate? If the government's stated goal is to reduce tax dodging, increase their revenue, then won't the public be less likely to engage in black market transactions? My general point being, there were other avenues they could have gone down before taking
this drastic action.
I say all this with Indian connections, I visit regularly and have a fondness for the place. I wrote that blog post as many aren't aware of what has happened over there - I left open ended questions of the potential problems I saw.
Btw this demonetization action has happened before in Soviet Russia and it doesn't end well -
https://sputniknews.com/business/20110202162419049/
PS Can we be friends? ;)
@drkarl I've been travelling a lot lately and missed on replying to this. For all we know this move could possibly be a well contrived scam of some sorts. Could we have done without this move certainly. Has this changed anything; bureaucracy, red tape, corruption... no major impact so not really. So the real picture is something we'd never know in the present...
Ofcourse we can! This was just a healthy debate. :)