Maxwell School News and Commentary

"For those who might totally dismiss such a scheme, by saying that it amounts to socialism, let me remind them that many believers in the power of markets, including myself, have throughout been in support of cash transfers as the least distortionary method of redistribution and fighting poverty," writes Devashish Mitra, professor of economics and Gerald B. and Daphna Cramer Professor of Global Affairs.

"If the government is serious about exports and jobs, a bolder approach needs to be taken on labor reforms," says Devashish Mitra, professor of economics and the Gerald B. and Daphna Cramer Professor of Global Affairs, about the Indian government.

"In terms of effectiveness, the move undoubtedly prevents further circulation of existing counterfeit currency in the two demonetised denominations (Rs 500 and Rs 1,000)," writes Devashish Mitra, professor of economics, and his co-author.