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b'Larry White is a professor of economics at George Mason University and has written widely on monetary theory, free banking, and the Austrian School of Economics. Today, he joins the show to discuss the recent demonetization efforts in India to crack down on corruption. White argues that India\\u2019s efforts to end the circulation of large notes and begin the circulation of new notes is having pernicious effects on the Indian population. He and David also discuss Austrian Business Cycle Theory, how this theory was developed by great economists such as Ludwig von Mises, and how the theory may have played a role in the lead up to the Great Recession. David\\u2019s blog: http://macromarketmusings.blogspot.com/ Larry White\\u2019s GMU profile: http://economics.gmu.edu/people/lwhite11 Larry White\\u2019s Alt-M archive: https://www.alt-m.org/author/white/ David\\u2019s Twitter: @davidbeckworth Larry White\\u2019s Twitter: @lawrencehwhite1 Related links: \\u201cIndia\\u2019s Currency Cancellation: Seigniorage and Cantillon Effects\\u201d by Larry White and Shruti Rajagopalan https://www.alt-m.org/2016/11/28/indias-currency-cancellation-seigniorage-and-cantillon-effects/ *Free Banking in Britain: Theory, Experience and Debate 1800-1845* by Larry White https://www.amazon.com/Free-Banking-Britain-Experience-1800-1845/dp/0255363753 *The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years* by Larry White https://www.amazon.com/Clash-Economic-Ideas-Debates-Experiments/dp/110762133X *The Theory of Money and Credit* by Ludwig von Mises https://www.amazon.com/Theory-Money-Credit-Ludwig-Mises/dp/1442175958'