No, Richard Thaler (Nobel winner, economics) didn't support Modi style demonetization

Posted on October 10, 2017 By newsroom Topic: India,India

Professor Richard Thaler, winner of Nobel prize for economics, specializes in behavioural economics, and made popular the idea that human behavior affects supposedly rational markets. He popularized the "Nudge" economics, where he said that society can subtly guide individuals toward beneficial behaviours, without any heavy-handed compulsion. 

One of the 'nudges' he favors is a move towards cashless economy. So, after the nobel win, Modi supporters started to spin how Modi's demonetization idea now stands validated by Thaler.

But when Thaler learned that Modi's government introduced Rs. 2000 notes, all he could say was 'damn'.

 

(Note: The twitter handle @R_Thaler isn't a verified one, but it was one tagged by the official feed of the Nobel Prize.)

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