Economy is the wealth and resources of a country especially in terms of the production and consumption of goods and services. This is executed by individuals who are living in or out of a certain place. The study of economics can help the firms and households or the buyers and sellers in the society as they interact in the market. It can also help analyze inflation or the rapid increase in price. The Philippine economy is the thirty-ninth largest economy according to 2014 IMF statistics. It is currently one of Asia’s fastest growing country and has been named as the Tiger Club Economies. But nevertheless, there are still problems we can evade like inflation, unemployment, poverty, and corruption. This 2015, we are facing problems we need to attain. Inflation, which is the top concern of all social classes. We’ve been recently hit by el Nino which resulted in the upward pressure on inflation. Merchandise exports fell by 12.9% in US dollar terms in the first half and imports fell by 8.3%. The trade deficit widened but growth in remittances and services exports, mainly from business process outsourcing and tourism, kept the current account in surplus.

Yes, The Philippines is facing a lot right now but don’t you think it would be wise to give a little more attention to education for the youth since they will be the next generation to withstand our country’s economy and politicians? The youth is the hope of our nation as what Dr. Jose P. Rizal said. Education is the answer to some of our problems right now. It would benefit the people and our economy. Education is power. Completing your education teaches you how to be responsible and it teaches you how to use logic. For people that do not have a fortunate background, education is the greatest equalizer. The availability of education today is much more prevalent than in generations past, allowing individuals from lower socio-economic backgrounds to compete with the majority of job seekers. Being able to gain a degree they are on the same level as many others, and can rise from their present level, reducing inequality, both at an economic and a social level in a society. Therefore, Education could be the solution to some of our problems economically and politically.



From riches to rags: The Philippine’s Economy and Politics By Anikka Gajudo

Each country has its own economy. Economy is the process of production, distribution and consumption of certain goods and services by individuals in the society. The Philippines economy is a common-based economy. It allows the production and distribution of goods and services according to the control and imposition by certain men and women, organization or government.

In order for a country to be progressive, one must know how to plan and implement economic development while maintaining political stability.

Economy is often associated with politics. Politics is the power of governance. The Philippines has a representative democracy as a political system. It allows individual participation of governance through votation and elect representatives to govern them.

The Philippine economy has a mixed history of growth and development.

Back in the days, the Philippines was once considered as one of the richest countries in Asia but now we are one of the poorest and underdeveloped countries in Asia. The fall of our economy started in 1981 during the Marcos’ administration when the Philippines started experiencing economic problems like scarcity of resources and social unrest.  Although there were some points that the Philippine economy flourished, like during Fidel Ramos’ administration, it wasn’t enough to bring it back on track. It even worsened during Joseph Estrada’s administration when foreign investors lost their interest in making business with the Philippines which can develop the Philippines’ economy.

So as you can see, the Philippine’s Economy is somehow dependent on the government of the Philippines and how it implements economic development. Filipinos complain about having a sucky economy and how a lot of people are unemployed and are in poverty but it is also their fault for not voting the right people to lead their country because the government plans and implements economic development. For example, we chose an actor, Joseph Estrada, to lead our country who in turn was corrupt and was impeached for cryonism, corruption and many more.

But now the Philippine economy is slowly growing. The Gross National Income increased from 4.2% to 5.0%. The unemployment rate decreased a little from 6.6% to 6.4%. The Gross Domestic Product increased from 5.0% to 5.6%.

The Filipinos should use their suffrage responsibly and correctly. The Filipinos should be educated so that they choose their leaders wisely in order for the country to grow and develop. We reap what we sow.


Sociology and Anthropology: Fundamental Concepts on Society and Man by Glenn Trajano