A modern example of Gresham's Law

Sir Thomas Gresham Anyone who makes an effort to study monetary economics quickly encounters the concept of Gresham's law, or the idea t...

Modi's demonetization: chaos is a feature, not a bug

Prime Minister Narendra Modi's aggressive demonetization of the 500 and 1000 rupee note is causing plenty of chaos in India. A general ...

Aggressive demonetizations

Prime Minister Narendra Modi surprised Indians today by announcing that India's highest denomination notes, the 500 and 1000 rupee, wil...

Thoughts on Rogoff's 'Curse of Cash'

The US$5000 banknote, destroyed in 1969 along with the $10,000, $1000, and $500 notes With the publication of his new book The Curse of Cash...