We have moved beyond measuring access, to including measures of the usage and quality of financial inclusion services. We need to go further to include measurement on how efficiently we are increasing financial inclusion. Such measures do not exist widely, if at all, and have yet to be systematically propagated. This blind spot ignores one of the most important aspects of innovative strategies for financial inclusion, which is the potential to drive down the costs of delivering financial inclusion initiatives. A framework for evaluating financial inclusion efficiency can provide powerful incentives to harness technology in the most optimal way. This should drive lower the costs of delivering inclusive financial services over time, and thereby enhance the viability for both Governments and private actors. Sustainability also calls for the strengthening of financial institutions that provide services to low-income and vulnerable groups. The misconduct or underperformance of such institutions can have a disproportionate impact on the poor simply because they have lower buffers. It can also significantly set back financial inclusion efforts by further entrenching the mistrust of formal financial institutions. It is therefore, critical for such institutions to exemplify strong and socially responsible corporate governance, and to have the appropriate technical expertise that will enable them to expand product offerings, increase outreach and develop alternative delivery channels. They must also be adept at identifying and managing financial and operational risks inherent in their business models. This requires investments in systems and in the development of talent with deep knowledge within the institutions.

He worked on economic reconstruction in Afghanistan, and on coordination of financial policy with the G7 countries. All in all, an impressive job. Currently, John is a member of the G20 Eminent Persons Group on Global Financial Governance, which aims at improving the functioning of the global financial architecture and governance. No less fascinating is John Taylor the teacher in both ‘quantitative’ and ‘qualitative’ terms. On the one hand, he has given countless speeches, hundreds of lectures, written several Page 3/4  textbooks and developed online courses. On the other hand, he is known for mixing teaching with entertainment. Indeed, John does not hesitate to use special didactic techniques to help students understand or remember material. During his classes, to cite just one example, John enters into a humorous dialogue with Adam Smith, revealing deep enthusiasm and dedication to the job. And by the way, this example is quite remarkable for someone who describes his humour “as mostly deadpan”, so that it generally takes a few lectures before his students are able to figure out when something is actually a joke. Having talked about John’s three occupations separately, I should emphasise how well they interact and stimulate one another. Research is integrated into college lectures; government work has enabled him to understand policy constraints, while this in turn has stimulated research. “Economic research,” John once wrote, “is most exciting and productive when it is policy-driven.” Karl Brunner could not have agreed more.