This document summarizes the structural economic issues facing the Philippine economy and society, including rising inequality, unemployment, deindustrialization, and the impacts of neoliberal policies like trade liberalization. It discusses how these factors have contributed to the rise of political dynasties and "economic warlordism" in impoverished areas. The government's response to recent economic and climate crises is described as inadequate. Alternatives proposed include integrating domestic industries, implementing a high-wage labor regime, and recognizing climate debt owed by wealthy nations.
This work shows the various stages the economy of Cameroon went through since independence. It is an analytical eye and element to learn more about this state
June 2012 - Electric energy sector needs rewiringFGV Brazil
The Brazilian Economy is one of the oldest publications for expert economic analysis of both the Brazilian and international economies. Through this publication, FGV’s Brazilian Institute of Economics and Finance (FGV/IBRE) compares different periods of the economy, assessing both macroeconomic considerations and scenarios related to finance, administration, marketing, management, insurance, statistics, and price indices.
For more information, and Brazilian economic index results, visit: http://bit.ly/1EA1Loz
Tony Hawkins investigates how to make economic growth benefit the poor in Zimbabwe.
Presented at 'Moving Forward with Pro-poor Reconstruction in Zimbabwe' International Conference, Harare, Zimbabwe, (25 and 26 August 2009)
This work shows the various stages the economy of Cameroon went through since independence. It is an analytical eye and element to learn more about this state
June 2012 - Electric energy sector needs rewiringFGV Brazil
The Brazilian Economy is one of the oldest publications for expert economic analysis of both the Brazilian and international economies. Through this publication, FGV’s Brazilian Institute of Economics and Finance (FGV/IBRE) compares different periods of the economy, assessing both macroeconomic considerations and scenarios related to finance, administration, marketing, management, insurance, statistics, and price indices.
For more information, and Brazilian economic index results, visit: http://bit.ly/1EA1Loz
Tony Hawkins investigates how to make economic growth benefit the poor in Zimbabwe.
Presented at 'Moving Forward with Pro-poor Reconstruction in Zimbabwe' International Conference, Harare, Zimbabwe, (25 and 26 August 2009)
"The Economic Outlook & Emerging Growth Trends for Miami-Dade County" Hosted by Robert D. Cruz, Ph.D, Chief Economist Miami-Dade County on Friday, March 4 at Versailles Breakfast Club
How to avoid the collapse of the brazilian economy with the new coronavirus a...Fernando Alcoforado
This article aims to demonstrate that there is a solution to avoid the collapse of the Brazilian economy as a result of the new Coronavirus and how to resume economic growth in Brazil after the spread of the virus. This article also shows why the Bolsonaro government does not adopt the strategies proposed in this article, which is explained by the fact that its economy minister is not competent enough to face the biggest economic crisis in the history of Brazil and for being a fundamentalist of neoliberalism for not to admit government intervention in the economy.
Why Macroeconomic Structural and Wage-Price Indicators are Puzzling the Polic...Economic Policy Dialogue
This commentary tries to answer the puzzling questions – why there is a disconnect between inflation and unemployment, unemployment rate and wage rate, monetary policy rate stance and real economy, economic buoyancy and price-wage indicators; and also, why the neutral interest rate and the natural unemployment rate are declining. It points out that the official data do not represent the structural realities of the economy. As the official measurements have been deviating more from the social and economic facts, the economic indicators have tended to become less predictable and applicable.
August 2012 - Why investment is still tied upFGV Brazil
The Brazilian Economy is one of the oldest publications for expert economic analysis of both the Brazilian and international economies. Through this publication, FGV’s Brazilian Institute of Economics and Finance (FGV/IBRE) compares different periods of the economy, assessing both macroeconomic considerations and scenarios related to finance, administration, marketing, management, insurance, statistics, and price indices.
For more information, and Brazilian economic index results, visit: http://bit.ly/1EA1Loz
September 2014 - Time for a route correctionFGV Brazil
With performance less than is necessary to meet Brazil's infrastructure demands and with funding scarce, investment needs to become more efficient.
The Brazilian Economy is one of the oldest publications for expert economic analysis of both the Brazilian and international economies. Through this publication, FGV’s Brazilian Institute of Economics and Finance (FGV/IBRE) compares different periods of the economy, assessing both macroeconomic considerations and scenarios related to finance, administration, marketing, management, insurance, statistics, and price indices.
For more information, and Brazilian economic index results, visit: http://bit.ly/1EA1Loz
Here is my quarterly update on Brazil. Enjoy reading and feel free to get in touch with me for questions or comments.
Aquí esta mi actualización trimestral sobre Brazil. Disfrutenla y ponganse en contacto conmigo si tienen preguntas o quieren comentar algo.
Quarterly Update on Colombia's Economy as at 30/09/2015 Actualización Trimestral sobre la economía colombiana (30/09/2015) Enjoy reading and please get in touch for any comments or suggestions. Disfruten y por favor ponganse en contacto si tienen comentarios o sugerencias.
Poverty, Inequality and Social Policies in Brazil: 1995-2009 UNDP Policy Centre
Since the mid-1990s, Brazil has undergone extensive reforms that have finally reversed the dismaying economic performance of the 1980s. In particular, poverty and inequality indicators have improved dramatically, especially since the late-2000s. This new paper published by the International Policy Centre for Inclusive Growth (IPC-IG) provides an overview of such recent trends and discusses the role played by four major government interventions: public education, the minimum wage law, Social Security pensions and Social Assistance transfers. Additionally, available data sets and methods for policy evaluation are also discussed. Check out more IPC-IG papers on social protection in the developing and emerging countries here: http://www.ipc-undp.org/CctNew.do?language=1&active=3
October 2011 - Recycling: Who pays for it?FGV Brazil
The Brazilian Economy is one of the oldest publications for expert economic analysis of both the Brazilian and international economies. Through this publication, FGV’s Brazilian Institute of Economics and Finance (FGV/IBRE) compares different periods of the economy, assessing both macroeconomic considerations and scenarios related to finance, administration, marketing, management, insurance, statistics, and price indices.
For more information, and Brazilian economic index results, visit: http://bit.ly/1EA1Loz
"The Economic Outlook & Emerging Growth Trends for Miami-Dade County" Hosted by Robert D. Cruz, Ph.D, Chief Economist Miami-Dade County on Friday, March 4 at Versailles Breakfast Club
How to avoid the collapse of the brazilian economy with the new coronavirus a...Fernando Alcoforado
This article aims to demonstrate that there is a solution to avoid the collapse of the Brazilian economy as a result of the new Coronavirus and how to resume economic growth in Brazil after the spread of the virus. This article also shows why the Bolsonaro government does not adopt the strategies proposed in this article, which is explained by the fact that its economy minister is not competent enough to face the biggest economic crisis in the history of Brazil and for being a fundamentalist of neoliberalism for not to admit government intervention in the economy.
Why Macroeconomic Structural and Wage-Price Indicators are Puzzling the Polic...Economic Policy Dialogue
This commentary tries to answer the puzzling questions – why there is a disconnect between inflation and unemployment, unemployment rate and wage rate, monetary policy rate stance and real economy, economic buoyancy and price-wage indicators; and also, why the neutral interest rate and the natural unemployment rate are declining. It points out that the official data do not represent the structural realities of the economy. As the official measurements have been deviating more from the social and economic facts, the economic indicators have tended to become less predictable and applicable.
August 2012 - Why investment is still tied upFGV Brazil
The Brazilian Economy is one of the oldest publications for expert economic analysis of both the Brazilian and international economies. Through this publication, FGV’s Brazilian Institute of Economics and Finance (FGV/IBRE) compares different periods of the economy, assessing both macroeconomic considerations and scenarios related to finance, administration, marketing, management, insurance, statistics, and price indices.
For more information, and Brazilian economic index results, visit: http://bit.ly/1EA1Loz
September 2014 - Time for a route correctionFGV Brazil
With performance less than is necessary to meet Brazil's infrastructure demands and with funding scarce, investment needs to become more efficient.
The Brazilian Economy is one of the oldest publications for expert economic analysis of both the Brazilian and international economies. Through this publication, FGV’s Brazilian Institute of Economics and Finance (FGV/IBRE) compares different periods of the economy, assessing both macroeconomic considerations and scenarios related to finance, administration, marketing, management, insurance, statistics, and price indices.
For more information, and Brazilian economic index results, visit: http://bit.ly/1EA1Loz
Here is my quarterly update on Brazil. Enjoy reading and feel free to get in touch with me for questions or comments.
Aquí esta mi actualización trimestral sobre Brazil. Disfrutenla y ponganse en contacto conmigo si tienen preguntas o quieren comentar algo.
Quarterly Update on Colombia's Economy as at 30/09/2015 Actualización Trimestral sobre la economía colombiana (30/09/2015) Enjoy reading and please get in touch for any comments or suggestions. Disfruten y por favor ponganse en contacto si tienen comentarios o sugerencias.
Poverty, Inequality and Social Policies in Brazil: 1995-2009 UNDP Policy Centre
Since the mid-1990s, Brazil has undergone extensive reforms that have finally reversed the dismaying economic performance of the 1980s. In particular, poverty and inequality indicators have improved dramatically, especially since the late-2000s. This new paper published by the International Policy Centre for Inclusive Growth (IPC-IG) provides an overview of such recent trends and discusses the role played by four major government interventions: public education, the minimum wage law, Social Security pensions and Social Assistance transfers. Additionally, available data sets and methods for policy evaluation are also discussed. Check out more IPC-IG papers on social protection in the developing and emerging countries here: http://www.ipc-undp.org/CctNew.do?language=1&active=3
October 2011 - Recycling: Who pays for it?FGV Brazil
The Brazilian Economy is one of the oldest publications for expert economic analysis of both the Brazilian and international economies. Through this publication, FGV’s Brazilian Institute of Economics and Finance (FGV/IBRE) compares different periods of the economy, assessing both macroeconomic considerations and scenarios related to finance, administration, marketing, management, insurance, statistics, and price indices.
For more information, and Brazilian economic index results, visit: http://bit.ly/1EA1Loz
Group 7
AGUILA, Don George Kinsee M.
DIMACULANGAN, Shella H.
DINGLASAN, Rydg Chrejt V.
MANTUANO, Dannah Francesca B.
OLAN, Elona Mathel B.
PAALA, Kaycee Ericka B.
PROMENTILA, Julie Anne E.
A2D - Macecon
15Introduction The economy of the United State.docxhallettfaustina
1
5
Introduction
The economy of the United States is the world’s largest national economy in nominal terms and the second in terms of purchasing power parity globally. The economy’s currency the US dollar is used to settle most international transactions. The US economy is a mixed one. Its major trading partners are United Kingdom, Canada, Mexico, South Korea and Japan.
The United States’ economy is one of the high industrialized and diversified economies in the world. Its major industries include; energy, transport, healthcare, and agriculture. It is a leading exporter of innovation goods, arms, petroleum products, and electronics.
The Unites states is a consumption economy where most of the goods and services are consumed locally rather than for export promotion. Although the US is one world’s largest exporters of technology goods it imports heavily from Asian economies like China. Its main export markets are the European Union, Canada, China, and Mexico.
The US economy is still recovering from the 2008 global financial crisis. It is also grappling with plummeting oil prices and is greatly concerned about China growing exports into the economy (Potomac, 2010). Lastly, the economy is in a transition because of regime change.
Production output performance analysis
Real GDP
The real GDP is an inflation-adjusted macroeconomic measure of the value of all goods and services that are produced in an economy in a given year. In simple terms, it measures everything that a country produces in a particular year. It is usually expressed in constant prices which enable it to capture economic growth more accurately as compared to the nominal GDP (Feldstein, 1988). From the graph, we can deduce that the GDP of the US was initially rising from the year 2006 up to the year 2008. During this phase the economy was experiencing a boom and was healthy, employment rates were high and consumption was high. However, the economy slides into a recession in the year 2008. During this period the 2008 global financial crises happened. This led to a decline in US GDP, where it hit its lowest point in the last decade. This scenario persisted up to the year 2010. From 2010 the US economy is seen to be in a recovery where the GDP is increasing significantly over the years.
Real GDP Growth Rate
The real GDP growth rate is a measure of economic expansion in relation to real GDP from one financial year to another. It measures how fast the country’s economy is growing. It is largely driven by net exports, personal consumption, and government expenditure and business investment (Feldstein, 1988). From the graphical representation of the real GDP growth rate of US, we are starting with a positive figure which indicates that the economy is expanding healthy. If the economy is growing then by implication so is employment, personal incomes, and business. During the 2008-2009 global financial the economy went into recession and it can be seen that the real GDP growth ra ...
Dr. Alejandro Diaz-Bautista, Korea Mexico Economy Presentation, University of...Economist
“Competitiveness and Economic Growth. An Analysis of Mexico and Korea.” Crecimiento Económico y Competitividad. Un Análisis de México y Corea.
Dr. Alejandro Díaz-Bautista
Professor of Economics and Researcher at
El Colegio de la Frontera Norte (COLEF)
Profesor Investigador del Colef. Miembro del SNI Conacyt.
adiazbau@hotmail.com
Prepared for the Conference at the Faculty of Economics, University of Colima, April 29-30, 2010. Colima, Colima, Mexico.
Preparado para la Conferencia en la Facultad de Economía de la Universidad de Colima, para los estudios en Cuenca del Pacífico en la Universidad de Colima, los días 29 y 30 de abril de 2010.
Brazil is clearly in a recession that was engendered by a series of economic policy mistakes made by the neoliberal governments that followed from 1990 up to the present moment, and also by the passive attitude of the incompetent Michel Temer government that does not adopt any effective measure that is Capable of avoiding Brazil's journey towards economic depression.
Informal economy is often stated as a temporary phenomenon which diminishes along economic growth. The sector is regularly taken as granted and its role for development is not properly seen. Around 80 percent of the GDP in Cambodia is produced by the informal sector. Informal economy is also important for the country’s urban areas and particularly for the country’s capital city. The economic development of Phnom Penh, the capital, is combined with a growth in its non-agricultural informal sector.
At the same time the city’s slum settlements are mushrooming, creating more pressures on the informal sector. As a result, many of the city’s informal workers have become working poors. Without proper protection and legalization of the informal sector, these poor citizens cannot be lifted up from the poverty trap and the sustainable development of the city cannot be achieved. In the 1970s informal sector became a common topic in international development discussions. Informality was identifi ed as a continued existence of traditional activities and production methods that would disappear along with industrialization and modernization (Straub, 2005).
The sector was seen marginal for growth and separate from the formal sector. However, later on the informal economy has increased, particularly in the Corresponding author: Ulla Heinonen Water Resources Laboratory Helsinki University of Technology - TKK P.O. Box 5200, FIN-02015 TKK, Finland Email: ulla.heinonen@tkk.fi countries where income is not equally distributed, and has become an integrated part of the economy in many countries (Becker, 2004). Thus, the informal economy - the refined definition of the International Labour Organisation (ILO) - could no longer be seen as a temporary phenomenon, or as a phenomenon that straightforwardly decreases with economic growth. In the recent decades the sector has grown around the world and it is currently the largest “economy” in many countries (ILO, 2002).
It seems to be that if economic growth is not accompanied by improvements in employment and income distribution, the informal economy does not shrink. Instead, it seems to expand, both in urban and in
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Economics is the study of how societies use their resources to produce goods and services. It is a social science that examines the production, distribution, .... Essays in economic development ... and obstacles faced by the poorer nations of the global economy on the path to development are extremely diverse.. Free Essay: Many people think that economics is about money. Well, to some extent this is true. Economics has a lot to do with money: with how much money.... Analysis of the Tourism & Airline Industry in the UAE. Example essay. Last modified: 4th Jun 2023.. Up: Economics Network > Writing for Economics. Essay writing. The idea of setting essays is to offer you the chance to make a longer, more complex argument.. Economics essays often examine how governments can manage resources to promote economic growth. In addition, economics essays may also analyze the impact of .... evidence on three issues within the field of economic development: the effect of social networks on immigrants' labor market outcomes (first essay), .... Lionel Robbins, biography, from the Concise Encyclopedia of Economics: Robbins' most famous book was An Essay on the Nature and Significance of Economic Science .... This thesis was written while I worked at the Research Unit on Economic ... Lilja examined an earlier version of the first essay and provided useful .... The list of economic essay topics is endless – the field focuses on multiple areas of human interactions on different scales. Choosing one of the economics ...
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IOSR Journal of Humanities and Social Science is an International Journal edited by International Organization of Scientific Research (IOSR).The Journal provides a common forum where all aspects of humanities and social sciences are presented. IOSR-JHSS publishes original papers, review papers, conceptual framework, analytical and simulation models, case studies, empirical research, technical notes etc.
Fiscal Decentralization and poverty reduction in Nigeriaafonomics1
The study was aimed at understanding the impart of revenue sharing formula between the federal government and the sub-national government on Poverty reduction in Nigeria. It is meant for government and policy makers to look critically at the reason why fiscal decentralization has a negative relationship with poverty reduction in developing countries unlike the positive imparts it has in some countries such as OECD Countries.
The study examines the factors underlying the jobless and wageless recovery in the Nigerian
economy. The study administered questionnaire to elicit information in randomly selected states in the six geopolitical
zones namely: Abuja, Bauchi,
Similar to The Structure Of Crisis, The Crisis of Structure (20)
We explore the application of optimal control techniques in agent-based macroeconomics. We specifically discussed the Ramsey-Cass-Koopman (savings), Barro (public finance), and Ellis-Fender (corruption) models. Model discussions lifted from Sala-i-Martin's lecture notes on economic growth. Some formulations were taken from lectures of Prof. Emmanuel de Dios and Prof. Rolando Danao of UP School of Economics. All errors mine.
Freedom from Debt Coalition's (FDC) slide presentation for the 2015 budget deliberations. Presented to the House Committee on Appropriations, September 10, 2014.
Here is the presentation I used in the Debt and International Financial Institutions (IFIs) cluster in the 7th Asia-Europe People’s Forum (AEPF 7) held from 13-15 October, 2008 in Beijing, China. I attempted to give to preview of the link between China's geopolitical strategy, lending (particularly of CEXIM), and domestic elite politics.
हम आग्रह करते हैं कि जो भी सत्ता में आए, वह संविधान का पालन करे, उसकी रक्षा करे और उसे बनाए रखे।" प्रस्ताव में कुल तीन प्रमुख हस्तक्षेप और उनके तंत्र भी प्रस्तुत किए गए। पहला हस्तक्षेप स्वतंत्र मीडिया को प्रोत्साहित करके, वास्तविकता पर आधारित काउंटर नैरेटिव का निर्माण करके और सत्तारूढ़ सरकार द्वारा नियोजित मनोवैज्ञानिक हेरफेर की रणनीति का मुकाबला करके लोगों द्वारा निर्धारित कथा को बनाए रखना और उस पर कार्यकरना था।
‘वोटर्स विल मस्ट प्रीवेल’ (मतदाताओं को जीतना होगा) अभियान द्वारा जारी हेल्पलाइन नंबर, 4 जून को सुबह 7 बजे से दोपहर 12 बजे तक मतगणना प्रक्रिया में कहीं भी किसी भी तरह के उल्लंघन की रिपोर्ट करने के लिए खुला रहेगा।
In a May 9, 2024 paper, Juri Opitz from the University of Zurich, along with Shira Wein and Nathan Schneider form Georgetown University, discussed the importance of linguistic expertise in natural language processing (NLP) in an era dominated by large language models (LLMs).
The authors explained that while machine translation (MT) previously relied heavily on linguists, the landscape has shifted. “Linguistics is no longer front and center in the way we build NLP systems,” they said. With the emergence of LLMs, which can generate fluent text without the need for specialized modules to handle grammar or semantic coherence, the need for linguistic expertise in NLP is being questioned.
31052024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
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role of women and girls in various terror groupssadiakorobi2
Women have three distinct types of involvement: direct involvement in terrorist acts; enabling of others to commit such acts; and facilitating the disengagement of others from violent or extremist groups.
01062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
03062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
2024 is the point of certainty. Forecast of UIF experts
The Structure Of Crisis, The Crisis of Structure
1. The Structure of CrisisThe Crisis of Structure Structural Causes and Effects of the Converging Crises of the Philippine Economy and Society James Matthew B. Miraflor Campaigner, Freedom from Debt Coalition
2. Development and Peace: The Maguindanao Case That Maguindanao (had been under Martial Law by virtue of Proc. No. 1959) is virtually an area where central government failed and where warlords rule is happening amidst a stark economic reality. From 2000 to 2003, Maguindanao has remained the 2nd poorest province in the Philippines. The poverty incidence has worsened from 59.3% in 2000 to 60.4% in 2001, the National Statistical Coordination Board (NSCB) reported. Maguindanao has am HDI (Human Development Index) of .461, with a rank of 73rd among 79 provinces in 2000, then 2nd lowest in 2003.
3. Stark Inequalities This, while the Ampatuans are known for lavishness. Two years ago, Q-11 television reported that Autonomous Region in Muslim Mindanao Gov. Zaldy Ampatuan and his father Maguindanao Gov. Andal Ampatuan distributed the P1,000 bills shortly after arriving at Ninoy Aquino International Airport (NAIA), disrupting operation. That the Ampatuan clan is rich and powerful may be related to the fact that Internal Revenue Allotment (IRA) is increasing over the years, and Maguindanao received exactly P1,593,823,229.00 in 2006 alone. Despite its "autonomous" nature, the ARMM receives approximately 98% of its operating revenue from the NG.
4. The Bane of Inequality The question then is: How did we arrive at this stark situation of extreme inequality? What policies did the government have in the past which eventually led to, or arguably, maintained a situation of, a very small clique of elite families, dynasties and warlords and vast majority of poor citizens? Will it get worse today, given the global financial and climate crisis, the current fiscal and economic crisis?
5. Outline Gradual Deterioration: Historical Trends in the Philippine Economy and Employment The Current Financial Crisis: Ramifications to the Philippine Economy Government Response to the Crisis: Deceptive, Inadequate, Myopic A Social Crisis in the Offing? Alternatives: Industrial Integration and a High Wage Labor Regime Climate Debt and Climate Crisis
6. Neoliberalism’s IMPACT on INDUSTRY AND the Labor Sector 1. De-industrialization and Unemployment Why are the majority of Filipinos poor?
7. Government Policies on Trade, Industry, and Employment Financial liberalization to allow entry of foreign capital, cheap labor policy (via contractualization, setting very low minimum wage, and union busting to prevent wage extenders) to attract them. Trade liberalization to allow the entry of cheap imports, make domestic industy more efficient through foreign competition What are the effects of these policies to the Philippine economy?
8. The Philippine Economic Structure The economic structure can best be assessed via comparing the components of the Gross Domestic Product (GDP) – Agriculture, Industry (which includes Manufacturing), and Services Due to trade liberalization policies by the government, and lack of basic industry support, Philippine manufacturing shrunk relative to its ASEAN neighbors.
9. Gradual Economic Structuring: The Decline 0f Agro Industry Agriculture suffered a continuous decline in GDP share, from 40.4% in 1946 to 18.8% in 2004. Industry, which started at 20.9% in 1946 but peaked at 41.0% in 1981, ended up at 33.6% at 2004. Manufacturing fell from 29.1% in 1974 to 24.4% in 2004. Services, however, which started at 38.8% in 1946, grew to 47.6% in 2004.
11. LABOR RESTRUCTURING Together with the economy, the labor sector composition has radically been changed also. The labor force share in the Agriculture and Industry category declined significantly throughout the years. Meanwhile, the workforce share in the service industries grew from 34.0% in 1998 to 43.0% in 2005. This is unfortunate because it is agriculture and industry that is the most labor-intensive amongst industries. This is the reason for the unresolved unemployment througout the years.
13. Unemployment and Warlordism Failed economy facilitates the strengthening of “economic warlordism” in the country. It is ultimately the lack of government action on the rising unemployment, a consequent of its de-industrializing policy, that creates new warlords in impoverished towns, as displaced workers of failing agriculture and industrial sectors look for employment in the underground economy. Amid widespread economic desperation, holding the gun for a patriarch becomes an attractive choice for the unemployed. Political clans merely have to dangle them patronage to corrupt them.
14. De-Industrialization and the Underground De-industrialization resulted to the conversion of the real economy into an underground, illegal economy, Just as the opening up of Mexico to the North American Free Trade Agreement (NAFTA) converted it from an industrializing country to the home of narcotic syndicates. The best solution for warlordism and patronage politics is to strengthen the economic base through trade protection and giving people jobs with decent pay. When people are secure with their livelihoods, the less likely will they be cowed into submission by elites and trapos. The people’s economic power can and must translate to political power.
15. Alternative: Labor Migration The main reason why OFWs are going out of the country, in the first place, is the largely unabated unemployment. From 2.24 million people unemployed in 1988, it jumped to 4.25 million in 2004. Labor exportation policy (LEP) evolved from being a stop-gap solution on unemployment (as invented by the Marcos administration, with then Labor Secretary Blas Ople as the brains) to a full-blown “development” strategy for the government. Domestic unemployment, reliance on overseas employment.
17. REMITTANCES: SUSTAINING CONSUMPTION DESPITE UNEMPLOYMENT According to the Keynesian model, in a normal economy, de-industrialization and the consequent unemployment would reduce to decreased consumption, which would result into further decline of production. In the Philippines, we see a different scenario, wherein high unemployment is mitigated by high volume of OFW remittances. Thus, the services-based economic growth in the Philippines is also a consumption-driven one.
18. Consumption-driven Economy The%age of government spending and capital formation share in the GDP had remained stagnant, if not decreasing. The export-import industries had significant and steep increase during the 90’s, while personal consumption is at the top over the years. Interestingly, the rise in exportation/imporation is proportional to the decline in capital formation The lack of capital formation may have been brought about by the lack of capacity to save and channel excess cash to banks for reinvestment, particularly because of low-income and high unemployment rate.
20. Consequence on Taxation Aside from low savings, the consequence of high unemployment, high labor export, policy is that the income tax base remains to be low. Even with the purposive targeting of consumption, the largest chunk of the economy, via regressive taxes (Republic Act 9337 or the E-VAT), the revenue structure is not working. Arroyo’s VAT-boosted and privatization-boosted revenue effort remains to be below that of Ramos, Estrada, and even Aquino.
22. Result: Growing deficit, Growing borrowings, Growing debt problem The recourse of a cash-strapped government, in the face of massive debt servicing, is to borrow. The debt problem is compounded by the current borrowing strategy of the government, which is to borrow in order to retire old debts and replace them with new ones at lower interest rates and longer maturity period. We see then a growing deficit, and a borrowings and debt service policy going hand-in-hand.
24. A convergence of crises: IS THE PHILIPPINES READY? 2. Enter the Global Economic Crunch and Climate Disasters Given the country’s structural economic problems, are we ready for today’s convergence of economic, climate, and fiscal crises?
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28. HERE Comes earth’s wrath Updated government reports reveal that crops, livestock, and farm structures destroyed by Ondoy and Pepeng is now reaching a staggering P12 billion. Ondoy accounting for P6.8 billion while Pepeng’s damages reaches P5 billion, a cost which may climb further. An estimated 400,000 hectares of rice fields have been affected, with 106,189 hectares totally destroyed. Rice crops destroyed by both weather disturbances have reached 560,000 metric tons, totaling P9.6 billion. This is not to mention infrastructure damages which also run to billions of pesos as of this writing.
36. Inadequate Response to Climate crises Compare 2010 debt service figures to spending on health, natural resources, agriculture, and water resources development and flood control of measly P48.344 billion, P13.317 billion, P55.368 billion, and P14.602 billion respectively. This is when flood-borne diseases such as leptospirosis is striking the metropolis, there is a need for mitigation measures such as reforestation, Ondoy and Pepeng wrought agricultural damages worth P6.766 billion and P1.25 billion respectively, and flood control adaptation measures has to be implemented.
37. The Main Problem: Still Lack of Economic Development The government is caught flat-footed amid the economic, climate, and fiscal crisis particularly because of our lack of development. Government cannot spend because of lack of revenues collected On top of lack of political will to resolve the debt and debt service problem Declining government revenues because of shrinking industry and puny tax-base due to high unemployment This is on top of tax inefficiency
38. The Social Crisis Amid the Convergence of Crises 4. The Explosion of the Social Volcano “Mapupuno na ba ang salop?”
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40. The Performance and Trust RATINGS OF GMA (July-Aug 2009, in percent) – PULSE ASIA
41. Crime Incidence (NSCB DATA, 2001-2007, per 100,000 population) Criminality rised under the Arroyo administration.
42. (Stopping) The Vicious Cycle An volatile and deteriorating economy translates to an insecure society. An insecure society, which does not accept the legitimacy of the rule of law, is one that is prone to social destabilization and decay, and ultimately, violence. Regimes naturally gain legitimacy by providing the best possible economy for the citizens. Failing on this, legitimacy might be compromised, and so is authority. We must thus push for economic governance that provides economic security for all, governance that steers the Philippine economy into inclusive prosperity.
43. Integrated INDUSTRY anD HIGH-WAGE LABOR REGIME 5. Alternatives for a Modern and Properous Philippines
44. Fragmented Industry East Asian NICs focused high-value-added processing or commodity production, In the Philippines, the failure to strategically link extraction (basic) industries with intermediate (processing) and finishing industries so as to diminish import-dependence relegated our economy into raw material extraction and/or low-value-added processing of imported products. Our industries are integrated individually to foreign markets, not to each other.
45. Proposal: Integrate the industries Vertically integrate strategic domestic industries engaged in raw material extraction with those engaged in the production of finished consumer goods so as to service domestic consumer needs. The integration of industry requires creating both supply and demand – and as such, requires government’s institutional support via subsidies (large projects require huge frontload expenses) and coordination (multiple supports are needed for several industries simultaneously). What we need for this purpose are efficient and effective State Operated Enterprises (SOE) which can serve as linkages across industries (by providing supply and/or demand).
46. Workers are Creator of Wealth, Determinant of Wealth’s value Workers role as a value creator - upon utilizing capital goods and technology, transforms natural resources into tangible wealth. Workers they do not just create wealth; they also determine the value of that wealth. Members of the labor sector, as income-earners, are also the ones which inject the money back into the economy as consumers. They serve as the consumption base which purchases much of the products created by society and thus, determines their relative values.
47. Workers as National Savings, INVESTMENTS, and TAX Base But a well-paid workforce doesn’t just serve as a consumption base Its surplus income not consumed is also injected back into the economy in a form of: Savings, which strengthens the banks and the national capital base (Japan) Investments, via financial instruments such as stocks, for the improvement of the instruments of production (US) It is also the revenue-generation base of the government for, with much of its revenues coming from employees’ income tax returns and consumers’ payment of value added taxes.
48. PROPOSAL: A HIGH-WAGE LABOR REGIME So as to expand the consumption, savings, and tax base of the government, the minimum wage must be increased so that workers have surplus income more than that (s)he needs to spend for decent living The state must ensure that worker’s income is over and above the “living wage” Living wage is for justice, Income beyond living wage is for economic development.
49. We ARE THE CREDITORS 6. Climate Debt and Climate Crisis Actual historical emissions Equal individual shares (past)
50. Climate Crisis »Changes in Perception The climate crisis, and the ensuing social crisis, must change our perception on our situation. In public finance, for example, our fiscal situationers usually tell us as of end-June 2009, that we are in debt to foreign countries, individuals and banks by as much as P1.851 trillion Out of P4.227 trillion national government debt. P1.059 trillion are foreign denominated securities. P955 billion are US Dollar Bonds/Notes, P25.2 billion are Japanese Yen Bonds, and P78.2 billion are Euro bonds.
51. Our Claim to First World: Climate Change “Ondoy”, and the succeeding record-breaking supertyphoons, are manifestations of climate change which disturbs natural atmospheric cycles. Atmospheric concentrations of greenhouse gases are higher today than anytime in millennia. Emitted since industrial revolutions Built up in the atmosphere, blanketing the Earth and causing considerable warming. Responsibility for these emissions lies principally with the developed countries. Why?
52. how about their debt to us? With less than one fifth of the world’s population they have grown wealthy while emitting almost three quarters of all historic GHG emissions during industrialization periods So called Annex 1 countries (includes G8 countries). Actual historical emissions Equal individual shares (past)
53. US$24 Trillion Climate Debt According to Jubilee South-APMDD, the initial minimum estinmate of the moentary equivalent climate debt owed to poor developing countries from 1800 to 2008 is about US$ 24 Trillion. The climate debt owed by the rich countries to the world’s poor consists of - “adaptation debt” and “emission debt”. The emission debt was shown at the last sliede. Estimates show that developed countries have already taken a debt of 115 gigatons of carbon dioxide above their allocation of 125 gigatons.
54. Adapation Debt Apart from freeing the atmospheric space, developed countries should be accountable for the adverse impacts to poor communities and countries of their historical emissions. These impacts constitute the “adaptation debt”, which are measured according to the losses and damages in the total production of goods and services of affected countries. The costs of Ondoy and Pepeng(along with Frank and the El Niño phenomenon), for example, are part of the Adaptation Debt of Annex 1 countries to us.
55. Rich Industrialized Countries Must Pay Up! Climate negotiations must compel rich countries and corporations to fully pay for the Climate Debt they owe for causing climate change and devastating poor and vulnerable countries. Financing must become the centerpiece of a new climate agreement to provide a basis for solving the global climate crisis and injustice. Apart from emmission cuts, rich countries must suppoer adaptation and mitigation measures, through actual funds and technology transfer.