, Columnist
Monetary Insanity Is No Basis for Common Ground
Indians shouldn’t be expected to sell the family jewels to help authorities battle Covid-19’s economic impact.
The standard of India’s recovery debate is something less than gold.
Photographer: Creative Touch Imaging/NurPhoto/Getty
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A rare meeting of minds between India’s Left and Right on a point of economics should alarm those who belong to neither. The two sides are tossing out similar — and similarly absurd — ideas.
Before they make Prime Minister Narendra Modi’s government do something silly and harmful (such as the overnight ban on 86% of currency notes in 2016), both camps should acquaint themselves with rudiments of Modern Monetary Theory.