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India’s demonetisation has the surreal quality of the post-truth world. The worry is that it may be working just as intended, damaging India’s democracy and supporting institutions in fundamental ways that will prove hard to reverse.
Amid the hardship of long, daily queues outside banks for often desperately needed cash and reports of more than 100 deaths due to suicides or sheer exhaustion from waiting, there has been no popular revolt in the country. Nearly 86 per cent of cash held by businesses and households was abruptly pulled out of circulation on November 8 and, despite the endless missteps, Prime
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