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Friday, February 24, 2012

26 years after EDSA and still wrong: It’s the Economy Stupid!


Twenty six years of continuous political tumult. From EDSA I to EDSA 3, all these EDSA remixes – and nary an improvement in people’s lives.

Twenty six years of continuous probes by the Senate and Congress – and people’s incomes still remain flat. With structural impediments in the constitutional economic provisions – the calculus does not – and will not work in favor of the Philippines no matter which way we swing it.

Today, the Philippines is in the $3500 to $3700 GDP per capita range. This is really pathetic considering we had 26 years to get it right .

Let’s compare this to Sri Lanka.

Sri Lanka began to shift away from a socialist orientation in 1977. Since then, the government has been deregulating, privatizing, and opening the economy to international competition. Twenty five years of civil war has slowed economic growth.

In 2001, however, GDP growth was negative 1.4%–the first contraction since independence. The economy was hit by a series of global and domestic economic problems and affected by terrorist attacks in Sri Lanka and the United States.

The crises exposed the fundamental policy failures and structural imbalances in the economy and the need for reforms. The year ended in parliamentary elections in December, which saw the election of a pro-capitalism party to Parliament, while the socialism oriented Sri Lanka Freedom Party retained the Presidency.

You see, many years ago, Sri Lanka was just like the Philippines of 1986 – lots of welfare state policies, racked in civil war, had its own diaspora as well, plus the regular natural disasters. That’s where the similarity ends.

While the Philippines of 2012 still feels very much like the Philippines of 1984, Sri Lanka has moved forward.

In 1986, Sri Lanka’s GDP Per Capita was $1237. By 2010, it had risen to $5169.

In contrast, the Philippines GDP per Capita was $1471.09 in 1986 (higher than Sri Lanka). By 2010, the Philippines GDP per Capita was only $3920 (lower than Sri Lanka).

Today, Filipinos celebrate EDSA while ironically in the midst of the gradual erosion of civil liberties by the son of the alleged restorer of liberty – Cory Aquino.

Which kinda tells you that Cory’s being a hero was nothing but a media concoction. Sure her husband was shot – but tell me who among the Filipinos of that time didn’t get shot or had their fair share of Marcos’ homicidal tendencies? Were they less heroic because they didn’t have a fancy surname of a haciendero?

Twenty six years after EDSA, people are poorer than ever, violence and impunity is more widespread, warlordism is still very much in vogue, corruption is still rampant – and while more pinoys are eating pagpag, Lopez, Cojuangco, Aboitiz, Ayala, and Pangilinan are jockeying to make it to the Global Forbes 500.

The reason that we have not achieved any headway is because – not only were we using the wrong solutions, we were also asking the wrong questions.

For one, do we necessarily need a political solution to an economic problem?

These tax-wasting political exercises are no different from the useless military actions taken in the various battlefronts in Vietnam, Iraq, Afghanistan, and Mindanao. History has taught time and time again that we cannot solve an economic problem with a military solution – or a political solution. To solve an economic problem, we use an economic solution.

Why are we not able to muster the political will to roll out an economic solution? The usual scapegoats are the vested interests. But that’s only one part of the equation – these rent-seeking regulations wouldn’t pass muster without the tacit approval of a majority of Filipinos who feel that government is responsible for improving their lives by providing freebies at other taxpayers’ expense. For short, not only are the politicans and vested interests to be blamed – but all of us are part of the problem one way or another – and we too can be part of the solution.

We don’t have to take to the streets. What we need is to patiently explain to our friends and family what the entire kaboodle is all abou. And when it is time to vote – to choose well.

Choose someone who stands for something – not just because he is against something. Sure – one is against poverty – but what does he stand for. If he stands for protectionist socialist central economic planning like North Korea – then that worsens the problem. If he stands for market liberalization, as has been done in Sri Lanka, Singapore, South Korea, Mauritius, Poland, Brazil, Bolivia, India – then we stand a fighting chance. As it stands, we are losing by default because of self-imposed economic restrictions againt 100% foreign-owned investments that bring jobs, trade, and tourism. And pursuing an economic policy dictated by the likes of Walden Bello just brings the Philippines closer to being a North Korean clone with our very own Yellow Great Successor – with matching red star on the yellow flag.

Let us not be distracted by the fact that political institutions are merely instruments in effecting the solution – and tinkering with the institutions by way of impeachment, probes, change in form of government – is not an economic solution – and will not deliver economic results that benefit the widest number of citizens.

Where did EDSA go wrong? It’s the Economy Stupid!


About the Author

BongV

has written 348 stories on this site.

BongV is the webmaster of Antipinoy.com.



16 Comments on “26 years after EDSA and still wrong: It’s the Economy Stupid!”

  • Bien Balajadia wrote on 21 February, 2012, 10:57

    “The reason that we have not achieved any headway is because – not only were we using the wrong solutions, we were also asking the wrong questions.”

    Hmm… how many times have I said that to different people I talked with?

    [Reply]

  • Benjamin A. Samonte wrote on 21 February, 2012, 10:59

    THE ECONOMY IS IN THE HANDS OF THE FEW GREEDY OLIGARCH WHO ARE IN THE GOVERNMENT AND CONTROL THOSE THEY CAN’T OCCUPY.

    [Reply]

  • Hyden Toro wrote on 21 February, 2012, 12:19

    We have nothing but economic stagnation after EDSA. The Feudal Oligarchs, tailored the Philippine constitution. So, that they will not lose their Haciendas. The Monopolist Oligarchs contributed laws to ensure, their businesses, will monopolize the economy. Family political dynasties grew and multiplied. Provincial warlords are still there. The poor in the Philippines grew to such huge proportion, that it was almost 80%, of the population. More people are dwelling around garbage dumps…surviving on scraps to earn a living. More OFW slaves are sent abroad to float the Philippine economy.Some Filipinos resorted to being Drug Mules, for easy money…some were caught and executed by Lethal Injections…more bad came from EDSA, than good…and the Aquinos are making themselves heroes out of this…

    [Reply]

  • Andre77 wrote on 21 February, 2012, 17:20

    It’s sad taht the youth are being (or have already have been) brainwashed by za yellow zombies. If that happens, they will vote for celebrities, idiots and religious people. Lulz, I even see propaganda in the books in school, saying “Be proud of your race”, “Prefer Filipino products than foreign ones”, “The People Power overthrew dictator and restored democracy” and other nonsense.

    The power of anti-intellectualism….

    [Reply]

    Ozneh Reply:

    Gilberto Teodoro was always number in student and online youth surverys during the campaign. In our class and people same of my age wanted Gibo to become the president. Sad to say, he was just second on my list. I think I should have voted for him. My bad. T_T

    [Reply]

    Anti-V Reply:

    See the damage done by wrong voting decisions? It’s too late now, the damage is done and now we have to wait for some more years before we decide again a new leader for this forsaken country. >:-( We have to get things right the next presidency and vote for the correct one!

    Looks like I’m going to grow more years older and may die without seeing any progress in the Philippines during my lifetime if the majority keeps on voting the same old formulaic and just “plain wrong people” to man this country.

    [Reply]

    Andre77 Reply:

    Start a revolution if dat Baboy Aquino does more bad than good :D

    Hyden Toro Reply:

    Take the country back from these Fools…before they will destroy it..

  • BlueStreak wrote on 21 February, 2012, 23:20

    http://www.congress.gov.ph/pdaf/news/pork_barrel.pdf

    Can I ask for anyone in the site to look this up and can this be true… Pork Barrel is Audited as they say it here.

    [Reply]

    BongV

    BongV Reply:

    President aquino has P60b unaudited pork barrel

    [Reply]

  • ricelander wrote on 22 February, 2012, 8:03

    Ask any Filipino around what he thinks is causing our poverty, 95% is a good bet to say “corruption”. This should explain all the disproportionate frenzy and outrage that quickly swirl around any scandal of such nature every time one hits the headline. This should also explain why PNoy’s “walang mahirap kung walang kurap” is such a big hit. Or why the mob would like to skin GMA alive if they had their way. After Marcos was ousted in 1986, the economic crisis that followed was quickly blamed on the Marcoses “corruption”. Kasi ninakaw ni Marcos ang pera ng bayan. Every crisis has invariably been blamed on corruption since, blame proportionately distributed accordingly on how loved or hated were each President. Who had the courage to say, it’s the policy idiot! So for sometime now, the universal wisdom is, as far as poverty in the Phlippines is concerned, the one and only true undisputed cause of it all, drum rolls please, It’s Corruption.

    Which is good for the beneficiaries of the status quo, all they do is pump up emotions against corruption and you drown out any attempt to understand the matter altogether. Who will tell Pinoys that corruption is even more rampant is China and Vietnam and Indonesia but we are eating their dust?

    bongV, I suggest you write an Idiot’s Guide to Corruption and Why You Got the Wrong Suspect…

    [Reply]

    BongV

    BongV Reply:

    I may have to do a follow up on this – Aquino wrong on corruption

    [Reply]

    ricelander Reply:

    I was in a discussion once and I started propounding on the idea that corruption is getting too much credit for all the mess around, the people there stared at me in utter disbelief with a hint of disgust as if I said something blasphemous. I realized its an idea that’s hard to sell. I backed out before I got the boos. People it seems get the feeling that you are selling the idea that corruption is okay.

    Corruption is red herring. Until people understand that, all our energies will be expended on loathing and hunting down the corrupt who are everywhere, formulating regulations that make it harder to cheat but would result to interminable red tape instead, laws that make it harder to hide loot but which find very accommodating hiding places outside of the financial system anyway…

    Hahaha, they have even designed a new format for SALN that would require hiring an accountant to accomplish, an offshoot of the Corona affair obviously. this is getting out of hand…

    [Reply]

  • Pugot wrote on 22 February, 2012, 10:26

    I say enough talk, analyzation and this crusade to educate hoping for the idiotic masses to vote wisely in the next election. Not gonna happen. Use Facebook, YouTube and this blog to mobilize a nationwide boycott to cripple the economy run by the Oligarchs. As AntiPinoy said, “It’s the economy stupid.” Well, who runs the economy, the oligarchs. How do you put an end to it, by boycotting. We have the networking and communication tools to plan a mass action and we’re not taking advantage of it? I really don’t get it.

    Set a date already. It’s the cheapest, the safest, the most convenient form of protest. Just stay home for a month and see if we don’t get the world’s attention and sympathy. BOYCOTT ALREADY.

    [Reply]

    Andre77 Reply:

    But the problem is, majority of Filipinoez are brainwashed by da yellow zombies. If they somehow ask da yellow zombie a question from AP articles, yellow zombie will say “Nooooooo it is da propaganda” or any crap.

    There is almost no hope to save Philippines. Only if the youth learn of the treachery of the yellow virus and try to make a change, then there is not only hope, but success.

    Well, for a candidate to win, he/she can lie to the people that he/she supports what Filipinos do. And then, do his true purpose, to change the bad to good.

    So, by this time, it is still not the right time to do it.

    (Though the people from the Hacienda may like za idea to overthrow Aquino and friends.)

    [Reply]

  • d_forsaken
    d_forsaken wrote on 23 February, 2012, 5:31

    I’d say…

    Nuke ‘em. Let’s nuke the bastards. And every living soul, in this country, and in it.

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