Great weekend read!

Narendra Modi takes a great leap backwards. Mao would approve.

Excerpts:
Sparrows ate locusts, and once the balance in the ecosystem changed, locusts proliferated and destroyed China's crops. There was famine, hunger, starvation: no less than 45 million people died in the three years following Mao's orders. At the start, Mao exhorted them to bear with the inconvenience. But then the pain piled up.

Mao's infamous Great Leap Forward included plenty of edicts besides the death warrant to sparrows. They all stemmed from the delusion that the leader of a country could redesign an entire society to conform to a master plan. The 20th century is full of cautionary tales that warn against such delusion, such as the communism of Mao and Stalin, and the fascism of Hitler. Yet, we do not learn.

Narendra Modi's demonetisation of old 1000 and 500 rupee notes is one such folly, a blunder in every imaginable way. It doesn't achieve its intended purpose. And its unintended consequences could devastate the lives of the poor, and cripple our economy.

h/t: +gautam ganguly
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