For the longest time, the Philippines has been caught in a low-wage-low-productivity trap. Our stagnant industrial and agricultural sectors have remained stuck at Industry 2.0/3.0 level while our neighbors in East Asia (China, Japan and South Korea) and in Southeast Asia (Indonesia, Malaysia, Singapore, Thailand and Vietnam) are sprinting forward…
The Filipino millennials (born 1982-1994) and post-millennials (born 1995 upward) may not be aware that the Philippine government has been relying on borrowing as the main instrument in managing the economy since the 1960s. The economy has become a debt-driven one for around six long decades. This is equivalent to…
AT the center of the neo-liberal or Washington Consensus doctrine is the theory of comparative advantage. The theory asserts that countries perform best in the world market if they promote industries that are able to produce goods at a lower opportunity cost based on existing or natural endowments, e.g., technological…