Philippine Economy

Credits to Joshua Sorono

When it come to Philippine economy we focused on the political economy of the Philippines since we wanted to talk about the tax of the government that came from the citizen of the society. This is a time of crises. Inequality is accelerating, with gains concentrated at the top of the income, and wealth distributions. This trend - interacting with deep racialized and gendered injustice - has profound implications for our politics, and for the sense of agency, opportunity, and security of all but the narrowest silver of the global elite. Law is central to how these crises were created, and will be central to any reckoning with them. Law conditions race and wealth, social reproduction and environmental destruction. Law also conditions the political order through which we must respond. The point is to understand the world in order to change it, which begins by making it less resistant to both change and understanding.

Over the past few years, its pretty obvious how our country, the Philippines has emerged as one of he most vibrant economies in the world, shedding its old image as "the sick man of asia"

Image from Filipino Star News

We come up to a conclusion when it comes to political economy. We're giving here an insight drives which grows the interest to political economy.

First there is the fact that there are available solutions that would improve public welfare but reforms still fails.

 If ever the blame should be put on our own leaders who failed in their tasks of navigating our economy to higher level of development after we achieved independence. That is on their failure to make and implement the appropriate policies, programs, and needed to spur faster economic growth that is both equitable and sustainable.

Finding ot that we are not doing well in our economy or in improving our people in the same pace that many of our close neighbors have done, not a few of us points to our presidential and unitary system of government as the culprit. I say its not so much the system but the officials who run the government for us.


If we are going to put the blame to these officials, let me ask you people one question. Who placed them in the government? It all goes back to the people who elected them, right? We elected them and even persist in electing or replacing them with their own kind even if we find them unable to better our lives.

So why? one answer is our institutions, because institutions matters. Institutions are the established laws, practices, or customs.

For example, the presence of political dynasties in our country which the even, the corrupt, and the incompetent to remain in power for long because being in power makes it easy for them to influence the result of every election in in their favor. One more example of this are the strategies for streamlining the economy which includes improvements of infrastructure, more efficient tax systems to bolster government revenues, furthering deregulation and privalization of the economy, and increasing trade integration within the region and across the world.

- Tulabut, Daniella G. & Salgado, Jansen Mari A.