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Pinoy masses: Viable investment?
13 Oct 2005

[posted on]

"...the misguided token of NEED is prized over the true virtue of ABILITY."

Very insightful, Mr. tsikoski! In other words, the masses have this bizarre attitude that they have the right to be given dole outs which continues to choke the seeds of any ethic of having to earn what they get.

Even worse is what Mr. vanquished has pointed out: "You give them rice and they EXPECT you to cook it for them". Pretty much sums up the negative effects of doling out. Money does not solve the problems of a people who don't know how to sustainably earn money in the first place. Sustainably earning money (at a society level) involves setting aside a part of it to expand our capital base -- building social, financial/economic, and political infrastructure to ensure sustained viability of the commercial activities we build up in our community.

Unfortunately for us, though we are able to earn money individually, our society remains stunted because of:

(1) very little will to divert earnings to finance capital expansion (because of low predisposition to save, invest, or plan);

(2) dysfunctional mechanisms for acquiring the portion of these earnings that are due to the state (taxes);

(3) inefficient processes for re-distributing wealth due to an opaque financial system and rampant corruption; and,

(4) a population that creates an environment not conducive to building capital and wealth (due to cultural stigmas nurtured against wealth and intellectual pursuit).

While items 2 and 3 are issues having to do with physical/organisational infrastructure, it is items 1 and 4 that provide the more disturbing message:

The Filipino masses are not a viable investment.

whatever wealth that remains in the country is shared among the elite, simply because the masses present nothing more than a sinkhole to said wealth. History has proven that money will not solve their problems. Natural resources that were once available for the picking are now depleted. Decades of foreign employment have yielded nothing more than sari sari stores, shawarma stands, and jeepneys (and these already represent the most enterprising of their lot) -- non-sustainable fad insdustries. Our competitive advantage in manufacturing has been eroded over four decades that should have seen the shift from labour-added-value industries to intellectual-added-value enterprises.

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