We beg to differ.
The Opposition continues to use the late former President Ferdinand Marcos as a scapegoat for the state of the Philippine economy. They refuse to acknowledge the validity of Marcos’s economic strategy from the beginning of his first term which was to focus on rebuilding infrastructure destroyed during World War II. After the declaration of martial…
A depreciating peso wouldn’t really be an issue if Filipinos are able to produce what they consume and sell what they don’t consume to an export market. The trouble is, the Philippines is not a producer of valuable enough stuff and prefer, instead, the lazy option of “producing” and selling low-value raw stuff. I enclosed…
Read More “Filipinos’ concern over a depreciating peso is due to a pathetic dependence on imports” »
Development in understanding in recent years is making real limits on growth a lot more palpable since it is becoming quite evident that our approach to measuring economic value and the costs of acquiring said “value” (i.e. our monetary system) is woefully incomplete. Yet economic growth remains the be-all-end-all that pervades every aspect of human…