Tag: Economy

Home » Economy
Post

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,...

World Economic Forum
Post

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...

Post

‘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. ...

Post

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...

Post

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...

Post

Continue to oppose Maharlika Investment Fund, says ex-central bank official

As the battle shifts to the Senate after the House of Representatives overwhelmingly approved the bill creating the Maharlika Investment Fund (MIF), a former official of the Bangko Sentral ng Pilipinas (BSP) has called on the public to amplify its objections to the measure.  Diwa Guinigundo, BSP deputy governor until 2019, said that while the...

Post

‘Maharlika Wealth Fund’: wrong in principle, thus beyond repair

Let us reflect on process and progress. The more common source of failure to progress is “circling”—moving round and round in circles, only to arrive at the original location.  Many things have been said about the proposed “Maharlika Wealth Fund” (MWF). Now the framers are scrambling to make the legislation enabling it, House Bill No....

Post

‘Maharlika Wealth Fund’ is uniting Filipinos in resisting it

The cost of administering the Maharlika Investments Fund (MIF), the Philippines’ sovereign wealth fund to be established should the bill seeking its creation be passed into law, is alarming many Filipinos. Its ability to generate the “consistent and stable investment returns” that its proponents tout is also raising loud questions. One wonders how the Fund...

Post

Endless want, endless Christmas

The Christmas holiday season in the Philippines starts in earnest after All Souls’ Day. Gift lists are updated, the holiday-party, vacation and reunion schedules finalized.  Weeks prior, the mall and tiangge merchants are already on holiday marketing mode, playing carols to set the mood and reeling in customers with irresistible discount sales. But now is...

Post

Advocacy merch and the ‘latag’ economy

With the unfolding and evolving drama on Twitter comes the predictable worry that dialogue—whether mindless or profound and operating in so-called real time in a space that one has gotten used to—has been interrupted. For frequent Twitter users, the basic question boils down to this: How can they now make known their thoughts and opinions, as well...