This data now challenges us to find more effective ways to encourage Filipinos to open bank accounts, and fully address the barriers that prevent them from doing so. A report from BSP-supervised E-Money Issuers gives us additional food for thought. They report that 27 million e-money accounts have been opened since we issued e-money regulations in 2009.
His thinking has so permeated modern macroeconomics that the worst pitfall in reading him today is to fail to appreciate the originality and even revolutionary character of his ideas, in relation to the dominant views at the time that he formulated them. To illustrate, I begin with the descriptive or positive side of Friedman’s work on monetary policy.