3/30/09

Indian Customs and Excise Guards

I watched a video on CNN IBN about the Indian Customs agents that work for the government whose job it is to "protect" India from smugglers and what-not, and to me what stuck out what the time and effort that these people spend against money laundering. To me, money laundering does not highlight the criminality that exists in that part of the world, (in fact I think money launders are quiet innovative) but rather it highlights the inefficiency of paper currency. I wonder how much money is spent on trying to protect this inefficient system that we seemingly depend on as the source of the economy. Why do we even have a paper currency? This is a western idea brought over to India, and really needs some rethinking. We need to get back to a more basic idea and understanding of currency in an effort to iron out the unintended consequences of this system that we have. Solutions to this problem is much more easily solved especially with technological advances. 

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