Demonetisation has cost us a lot

Demonetisation, or DeMo, is back in the news. And, it’s not good news. In articles written for this paper ( December 7 and 26, 2016), I had argued that: Total transactions would contract; economic activity would be seriously disrupted; there would be lag effects; and the disruption will continue into the first quarter of 2017-18 (and probably beyond that). It is time to take stock of what DeMo did not achieve, what it did and its continuing impact.

First off, DeMo neither stopped the flow of black income nor the acquisition of black wealth. Since it did not address these