EDITOR’S NOTE: What was intended as a weeklong strike starting March 6 to protest the phaseout of traditional jeepneys was ended late the next day by strike leaders after a meeting with officials in Malacanang. Manibela chair Mar Valbuena said the protesters were banking on President Ferdinand Marcos Jr.’s directive to concerned agencies to fully...
Category: Business
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My understanding of economics
High prices often confront us. Government is trying to control inflation, which is increasing beyond its desired levels—an ideal of about 2% annually but currently is about 9%. Why do prices increase and why do they drop? Why do things appreciate and increase in value over time? Why do they depreciate? Market forces, we are...
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The struggle against trade liberalization continues
The Senate concurred in the ratification of the Regional Comprehensive Economic Partnership (RCEP) on Feb. 21, with a vote of 20 in favor, 1 against and 1 abstaining.In lamenting the results of the Senate vote, Trade Justice Pilipinas joins 130 other organizations and 9 individuals who issued a collective statement calling on the Senate to...
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Is the Philippine economy ‘backward’?
We are not a “backward” economy. It’s just that economies capable of producing sophisticated manufactures necessarily require economies that must specialize in raw material or labor exports. That’s global capitalism for you. Ours is a developed capitalist economy to the extent that the capitalist economic system that grips the world today is already fully mature,...
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Will World Economic Forum folks believe Bongbong?
Before leaving for the World Economic Forum (WEF) in Switzerland, President Ferdinand “Bongbong” Marcos Jr. said he will “highlight the significant economic gains we have achieved in the last part of the year.” He is the only leader eager to attend from Southeast Asia. The WEF was set up in 1971 as a global multistakeholder...
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‘Pasadang’ Pandemic: Transport workers during Covid-19
The Philippine public land transportation industry was beset with problems during the Covid-19 pandemic. With restricted mobility and physical distancing measures enforced as early key strategies to mitigate the spread of the coronavirus, it was inevitable that the livelihood opportunities of transport workers would be negatively affected as the number of trips and passengers dwindled. ...
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In 2022, crisis in incomes and jobs pummeled labor sector
Despite the economy’s recovery from the recession induced by the pandemic, workers faced a worsening crisis in incomes and jobs in 2022. Thus, while businesses were slowly recuperating, formal and informal workers continued bleeding from wage and income erosion, job losses, and a fall in employment quality. Inflation climbed steadily for the whole year, from...
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Nuclear power: Energy agency wants objective study by independent party
(Last of two parts) President Marcos Jr. is all for the idea of reviving the Bataan Nuclear Power Plant (BNPP), but the Department of Energy (DoE) is leaving no stone unturned to ensure the safety, if at all possible, of the controversial facility that has been lying dormant for nearly 40 years. Weeks after Mr....
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Nuclear power: Rehab of Bataan plant pushed in big way
(First of two parts) President Ferdinand Marcos Jr. appears intent on getting the mothballed Bataan Nuclear Power Plant (BNPP) going before he steps down in June 2028, in what critics say could be yet another project to airbrush his father’s legacy. The nuclear power plant in the province of Bataan west of Manila was built...
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Debunking objections to a wealth tax
A wealth tax is based on the market value of owned assets minus debts and other liabilities, i.e., one’s net worth—anything that has monetary value. These include cash, landholdings, bank deposits, shares of stocks, vehicles, real property, pension plans, crypto funds, housing, trusts, jewelry, yachts, planes, works of art, antique collections, copyrights, etc. Opponents from...
