A scenario-based multi-attribute decision-making (MADM) methodology has been developed and applied for the selection of automotive technology. The present study discusses, what are the problems for the current automotive technologies are, what requirements are outlined in the literatures and government guidelines/publications, considering different aspects of technological needs, public needs, policy measures etc. A set of criteria are developed, which cover multiple perspectives; reflecting the diverse stakeholders in the technology assessment, acquisition and adoption, in this case the government, the general public which includes drivers and pedestrians, automobile manufacturers. Three emerging technologies (Vehicle-to-Vehicle communication, Vehicle-to-Infrastructure and Full autonomous) were identified and evaluated based on the mentioned criteria using Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS), a multi criteria decision tool. Since the technologies are still being developed and some are barely emerging, it is considered appropriate to use speculative values from the publications from industry and other credible sources and consider multiple scenarios each of which could occur. In our case, we considered 9 main scenarios and evaluated the three technology candidates under each of them.

The 2016-2017 economic event of a sudden demonetization in India can provide an empirical example in which to test the validity of some schools of monetary theory, particularly the Chartalist School. The Chartalist School distinguished three kinds of money: Fiat, Commodity, and Managed Money. The event provided empirical evidence that this distinction between currencies in an economy is valid and important. The sudden withdrawal of Fiat money immediately decreased the amount of commodity money, creating an economic crisis in local Indian commerce. Managed money, as bank accounts, was unable to fill the temporary gap in the supply of money because a large portion of the Indian population did not have bank accounts. Also the government did not supply a sufficient number of new 500 and 2000 rupee notes to quickly replace the withdrawn 500 and 1000 rupee notes.

In a previous paper, we analyzed an economic event in 2016-17 of a sudden demonetarization of India, to test the empirical validity of the Chartalist school of monetary theory [1]. The Chartalist school had distinguished three kinds of money: Fiat, Commodity, and Managed Money. The demonetarization event provided empirical evidence for this currency distinction being significant and empirically valid, in the context of the nation of India. That sudden withdrawal of Fiat money immediately decreased the amount of Commodity money, creating an economic crisis in local Indian commerce. Managed Money (as bank accounts) was unable to fill the temporary gap in the supply of money, because a large portion of the Indian population did not have bank accounts. Also the government had not supplied a sufficient number of new Fiat money (new 500 and 2000 rupee notes) to quickly replace the withdrawn 500 and 1000 rupee notes. Our analysis showed that the policy thinking behind the demonetarization event lacked a proper understanding of valid monetary theory. In this paper, we continue the analysis of the demonetarization event by constructing a model of monetary flow in India. This model builds upon the Chartalist theory of money and may help fiscal policy makers to make sound decisions about currency and credit in a nation.

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