Economy and Politics in the Philippines By: Mitzi Coleen A. Guinto

The fundamental economic problem is related to the issue of scarcity because of limited resources and endless demands, society needs to find ways on how to produce and distribute theses relatively scarce resources. Free market economy allows for the production of goods and services according to supply and demand meaning prices are fixed by the law of suppy and demand. A command based economy is where the government determines what goods should be produced, how much should be produced and the price at which the goods will be offered for sale. However, a market based economy creates many problems like inequality of distribution. For instance the problem we have on the demand of rice in the philippines, the supply went low because business owner secretly hide sacks of rice causing it to be unequally distributed and other are priced higher. Thus, the government should intervene in the econimic decision making process. Karl Marx, a socio-political German theorist explained that class conflict and social stratification derive from economic factors or social relations produced by the mode of production. Thus, social progress is found in the allevation of economic life of man. Economic welfare of society is the manifestation of social justice.
The philippine economy at present is still at its poor state even with the new administration put into power by the people. There have been a lot of quantum changes for the last decade, up from the time when the country was colonized by various countries which are currently in power right now. There are some articles written by economists, political analysts and social scientist mentioning that a part of the reason why the philippines right now is in such poor state is due to the wasted air or assistance of the developed or industralized country.

http://financial-dictionary.thefreedictionary.com/Market-based+economy
http://investopodia.com/terms/c/command-economy.asp
http://www.ukessays.com/essays/economics/assesing

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19 thoughts on “Economy and Politics in the Philippines By: Mitzi Coleen A. Guinto

  1. The government is having a hard time providing for our country. The economic problem is very much focused on the lack of resources and the unlimited demands which we cannot comply by due to incomplete resort. We should pay more attention to the needs of the society and the importance of these needs for our citizens.
    – Mary Christine Saldon

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  2. Although other countries may have reached out to help us, we must not only solely rely on this, but also on our own nation to provide for itself, especially during calamities. The Philippines has so many citizens yet so little resources to its disposal. This fact must change or our country may not be able to sustain itself in the future.

    – Alacrito, Ian

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  3. The Philippine’s economic problem is the lack of technology to make use of our natural resources. The government should be more attentive to the needs of the citizens due to the fact that we have little resources and a large number of citizens.
    -Andre Austin Trabajo

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  4. The Philippines should not rely on other countries for the development of the economic problem of the country but also we the Filipino people must help our nation.

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  5. The Philippines has great potential to be so much more than what it is now. The Citizens need to unite and be the change we wish to see in ourselves. We have a large population. We are supposed to have strength in numbers.
    – Ligutom, Martina

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  6. Indeed, our country’s problem is the scarcity of resources and low demand of supply. Most, if the time we rely on other countries upon solving this matter. Just the fact of our country relying on other countries all the time shows that our country is having a hard providing itself. It is alright to ask for help but we must also try doing our best to help our economy progress.

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  7. The lack of resources can be a factor of the problem in our economy. We all know that we, filipinos, are so resourceful. That’s why we should brainstorm in forming new ideas on how to make our economy prosper. #BangonPilipinas

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  8. We should not depend on the countries that are lending their help to us. The government should make a move on how to improve our economic status that would probably help Filipinos. And we should also not be contented on what we have today but instead we should help ourselves and our country to improve our economy.

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  9. Relying on other countries for our own survival is not a solution to the many problems we face in our nation. Instead of making this a practice, we must utilize our manpower in order to develop technologies that will allow us to make use of our soil’s natural resources. This will allow the Philippines to generate its own income.

    -Pinili, June Katherine E.

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  10. Our government should start funding more on the farming equipment and technology necessary to help farmers in the Philippines to produce food and crops with higher quality. In this way, we can start being a Tiger Economy in Asia once again. -Laurence Michael C. Tan

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  11. At the basis of this, does the change of government officials help on the country’s progression? The country remains poor despite the years we have put different leaders in the throne but the situation worsens as the years passes by. What change does it affect when we talk about leaders? People need to sort out their priorities first before complaining I daresay. -Mainit, Mary Camille C.

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  12. The Philippines is one of the world’s mega biodiversity countries, rich in both fauna and flora. While the country is abundant in natural resources, environmental assets remain unavailable to poor groups owing to exclusion, insecure land tenure, lack of access to technologies; or the resources are degraded. If the government would develop our agricultural sector, then our economy would reach peaks.

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  13. Philippines has many natural resources but sad to say, it is now threatening to extinct. The government must know how to save and produce for we Filipinos are proud of what we have. This leads to a better economy we want to reach.

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  14. It all boils down to one reason: there are a couple of corrupt leaders in our government and whatever assistance that other countries extend to our government, that needed funds are diverted to them for their own consumption. What is good about the Filipino people is that we are very resilien, able to to ae up after a storm.

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  15. The middle class is now vanishing. It’s either we belong to the less fortunate or to the very fortunate. This is the proof of our country’s intense corruption. Without them our work industry would be affected so as with our economy. If we want progress then we should remove corruption.

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  16. Being allied with other countries is beneficial in terms of bullying. When the weak faces against the strong, he retaliates by uniting together with others to be able to have enough power to defend themselves. But that doesn’t mean that you should be entirely dependent, you must learn and grow from it.

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  17. The problem with the Philippines is it is too dependent on other countries for its own survival. The Philippines is rich with resources but from the looks of it, we’re basically on crutches! We need to be able to utilize what we have in order for us to be able to maximize our resources and be an independent country.

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  18. If we just know how to stand on our own and have the courage to take risks and improve the things that we have, then maybe we can live our lives without other nation’s help. We all have the resources, but we don’t have the right people. It will be impossible for us to rise if we just depend to other countries to survive.

    -Naquila, Rosary Faith P.

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