Rising inequality has been an inescapable phenomenon of global economic development over the past 200 years. Per the United Nations’ Sustainable Development Goals, growing inequality affects 70% of the global population and threatens “long-term social and economic development, [harming] poverty reduction and [destroying] people’s sense of fulfillment and self-worth,” all of which “can breed crime,...
Tag: economy
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The dubious legacy of the Marcos debt
As the nation marks the 50th year of the declaration of martial law on Sept. 21, 1972, it is relevant to recall how that chapter in Philippine history has affected the country and its people. Three months after the ouster of the Marcos regime in February 1986, a group of 16 economists from the University...
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Who’s misinforming the public on the debt service?
An issue has arisen on what exactly are the Philippines’ debt service obligations. Contending parties from the government and the media have issued contradictory statements on how to define the debt service: The government claims it is manageable; some in the media are raising alarm bells. Last Aug. 24, Budget Secretary Amenah Pangandaman was quoted...