The unbanked and informal economy has been especially hard hit. Trade across all facets of the economy was disrupted with cash-centric sectors like agriculture and fishing virtually shutting down.
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One month in, what's the impact of India's demonetization fiasco?
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"The poor do not have the access to structural and cultural resources to adapt to shock doctrine economics. The poor were taken totally off guard and the banking infrastructure in the hinterland is rather limited. The tech class has poor exposure to critical social theory in order to understand the impact on the ground. There is an empathy deficit."
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