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Home / News / India News / Nobel laureate Richard Thaler says demonetization was badly implemented
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Nobel laureate Richard Thaler says demonetization was badly implemented

Nobel laureate Richard Thaler says demonetization was badly implemented

By Shiladitya Ray
Nov 20, 2017
12:25 am

What's the story

The winner of the 2017 Nobel Prize in Economics, Richard Thaler has said that the Modi government's decision to demonetize high value currency notes was a "good" idea, but its implementation was "deeply flawed".

The behavioural economist's opinions came to the fore when Swaraj Kumar, one of Thaler's students at the University of Chicago, approached the Nobel laureate about his views on the demonetization.

Twitter Post

A screenshot of Thaler's conversation with Kumar

This is what @R_Thaler told @swarajkumar224 on demonetisation. Those sharing an old cherry picked tweet of Thaler’s do take note. pic.twitter.com/P2rNE6Um02

— Rupa Subramanya (@rupasubramanya) October 15, 2017
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Details

Details about Richard Thaler's views on demonetization

Kumar had emailed Thaler, asking for his views on the demonetization move.

After Thaler replied, Kumar uploaded a screenshot of the conversation on Twitter. The tweet was later retweeted by Thaler's own Twitter handle.

However, Thaler's initial views on the demonetization were positive wherein he had hailed PM Modi's ambitious move calling it a "good start on reducing corruption".

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