Finally! Am done reviewing, editing, and finalizing everything on this group’s MFIMET2 homework. Time to doze off. (It’s 4:49 am now)Tho, I only have an hour and 20 minutes left before I wake up soon again before going to school. Shucks! -_-
Yesterday, I just went skinny dipping. It was awkward at first but then I managed…
I just lost my third phone this college.
Last Thursday, after my grad pictorial, I went to the comfort room to pee, and remove my make up afterwards ( I don’t like wearing heavy make up. Oh dear, no.) When I was about to pee, my 6 month old phone fell plunging down to the toilet. Funny cuz, the night before, when my friend’s blockmate and I were going home from school on our way to LRT2, I told her about how my bag slipped and fell on the toilet and I haven’t flushed the pee of whomever it was. She then told me that her cousin’s phone also fell into a toilet when smartphones weren’t invented yet.
Anyways, I found myself almost crying cuz I bought it with my own money. And I even took a loan from my sister in order to pay the half amount. D: Until now, I haven’t paid her in full. xD I oughta pay her right after I graduate, which is only 2 terms away, btw! o.O xD
I forced myself to pick it up from the toilet after 5 seconds or so. Disassembled it and dried it with tissue. I tried turning it on but it wouldn’t. I have such bad luck to begin with. D: Anyways, I’m borrowing my sister’s phone right now even tho I have another phone. My dad and bro brought it in SM Mega the last time Dad visited us here in Manila. But I don’t want to bring it with me to school ever since I’ve experienced my phone getting stolen in the LRT. 4N, 6S, 1N, 2S, 3N. xD
Strategies for Economic Development
This section will be divided into three segments which will present strategies needed to be employed and pursued by the Philippines while also showcasing some issues and attempts made by the country in the past; 1) Agriculture or Industry , 2) Export or Import Substitution , and 3) Central Planning or Free Markets.
Agriculture or Industry?
Like many other developing nations, the Philippines continually dreams of becoming a Tiger Country yet again. With the first tradeoff presented, in which a developing country must choose whether to preserve its economy as a raw material producer, or to operationalize industrialization, the country is sure to be better off if it chooses industrialization over the former. It is obviously the ideal and logical choice. Although there are cases in which industrialization has not brought the benefits that were expected, like in the case of China whose Industry Percentage of its GDP was 49% during 1998, its per capita income only remained at $750 compared to that of U.S. whose Industry Percentage was only 26% yet its per capita income was $29,240, the Philippines could reduce its heavy dependence on the agricultural sector, providing the country with financial affluence, self-sufficiency, employment, and World Leadership in the long run.
We have seen many of our neighboring countries like Singapore, Taiwan, Japan, and Korea in progressing towards becoming an industrialized state by adopting and implementing real industrialization programs. But why has the Philippines chronically lagged in terms of adopting industrialization? Was there any possible misconduct or wrong decisions made in the past by the Philippines which doomed it to never transform the economy into an industrial state and hence, remain as a raw material economy? How has the Philippines during the 1950’s attained its position as the “best performing Third World economy in the Far East, and rated only “second to Japan””?
To answer the first question, Article XII, Sec. 1, par.2 of the Constitution is the “mortal factor which guarantees that the Philippines shall never transform into an industrial state and graduate to Newly Industrialized Country Status” (Cited in Lichauco, Hunger, Corruption, and Betrayal in the Philippines). Under the provision, “the State shall promote industrialization and full employment based on sound agricultural development and agrarian reform”. These industries are furniture and carpentry, rice milling, making fertilizer out of animal waste, etc. No engineering nor machine tool and metal industry because such industries have no connection whatsoever with agriculture and land reform (Lichauco). This kind of industrialization, which constitute the core of any industrialization program, on the basis of metal and machine power, will be considered unconstitutional. No president after Marcos pursued any industrialization program because to do so would be unconstitutional.
For the second question, by allowing the U.S., being a neo-colonialist state, to politically and economically control our government by means of intervening with the electoral process of the Philippines and subsequently making the candidate a subordinate, has paved way for the Philippines’ “puppet government”. There were many former Philippine Presidents who have served as a collaborator of the United States such were the case of Manuel Roxas, Ramon Magsaysay, Diosdado Macapagal, and Corazon Aquino who conformed to the ideals and motives of U.S. with intervening in the sovereignty of the Philippines by the former’s various programs and policies which have kept our country from industrializing. According to Lichauco, what created the Philippines as America’s neocolony was the Bell Trade Act of 1946. Some of the conditionalities presented was “to allow U.S. citizens the right to exploit the nation’s natural resources and operate public utilities”, and extension of free trade. This policy ended up as a destruction of the country’s economic sovereignty and hence, caused the economy to plunder, making it more impossible to industrialize.
There should be a revision on the Constitution regarding our country’s industrialization which should be based on machine power to produce the means of production.
Export or Import Substitution?
According to Case, Fair, Import Substitution is “an industrial trade strategy that favors developing local industries that can manufacture goods to replace imports”. This promotes and values economic independence from other states and protect a nation’s internal market. For the group, this strategy is more favorable for a developing nation like the Philippines than the other. Although there are many arguments combated with this kind of strategy, one counterargument is to present a valid example to show that this strategy does not always fail.
To answer the third question aforementioned during the deliberation on whether to adopt an agricultural or industrialized economy, which was previously unanswered, the only reason why the Philippines has attained its “Best Performing Third World Economy” position and rated “Second to Japan” during the 1950s was mainly because of the former President Garcia’s Filipino First Policy. He concentrated on “training” Filipino manufacturers in producing final goods for the Filipinos. With this policy, Garcia ensured to protect its economy from being overtaken by the influx of iniquitous supply of foreign goods. This paved way for local industries and entrepreneurs to make it big in the business industry. Moreover, Filipino businessmen contributed a substantial amount/percentage to the country’s overall GDP and not the foreign investors.
Central Planning or Free Markets?
Central Planning lies in its “ability to channel savings into productive investment and coordinate economic activities that otherwise might not exist(Case, Fair 2002).” This would be the more appropriate strategy for the country to adopt as this would enhance the growth of our economy towards maturity by intensively and carefully planning the country’s future potential performance. Although it is more difficult to administer compared to free markets recommended by international agencies, whose reforms included the elimination of price controls, privatization of state-run enterprises, and reductions in import restraints, the former is still more reliable.
The group would like to emphasize on the last reform presented which is the reduction in import restraints which already happened during the implementation of the Bell Act of 1946, which was then barricaded during Garcia’s administration(1957-1961) by implementing the Filipino First Policy and system controls, which was subsequently dismantled by presidents after him- Macapagal, a collaborator, through his Decontrol Program, and Aquino, also a collaborator, through her Import Liberalization Program, and presidents after like Ramos and Estrada. With these programs taken into course, the economic fate of the Philippines was doomed to repeat the historic results underlying the Bell Trade Act of 1946. These hastened the influx of import demands in the country under which there were no quota, nor tariffs required for these foreign goods to enter. As a result, with the exorbitant supply of import goods, the Philippine economy became too grossly dependent on them; the Philippines never produced nor manufactured domestic goods. With that said, the case goes if the Philippines were to adopt a Free Market.
Consequently, the strategies for economic development for a developing country like the Philippines should be to operationalize industrialization, while opting for import substitution, and concentration on central planning.
After 2 hours, I’m finally done with it. xD Our prof hasn’t even taught us on how to use Gretl. Glad that I was able to get the right answer, I think? Right now, I’m only gonna interpret the results. It’s 2:16 am right now, and I have to wake up at 5am later. Ohwellz. I’m used to it. And that’s just how college life works. xD
It’s 4:30 in the morning right now. I’m studying (more like cramming) for a quiz on our Financial Econometrics! I’m at Chapter 5 of the book and I’m trying to understand and reread it, but I just can’t understand anything! The topic’s about multiple regression ek ek. The quiz’s on Thursday. And I still have to go through to 2 more chapters, plus ppt lectures, and my notes! But I have no time to study today (Wednesday) since I have night classes every M-W! ALSkfj Huhuhu! I’ve planned on sleeeping at 5 am today. And I still got 30 mins to read our reading assignment for law which is about Partnerships and Corporations. Every meeting, our prof would randomly select 6 students. And for a span of 10 mins, that selected student have to answer the prof’s questions until she’s satisfied with your answer. KAjkLF! I also have another quiz in line for Thursday which is FMANACC! ASKFLKJDF! I haven’t even browsed the book yet even during class discussions! >:D
Ahh, the perks of cramming and procrastinating. Now that I’m taking up majors, I get more and more inclined to be lazy! I never was this lazy back when I was a frosh/ 2nd year college. D: What is happening to me?? I guess… I haven’t really focused on my acad works… I just can’t balance orgs/ gimmicks/ school works/ requests to do in dA anymore.
Totally in sabaw mode right now. Aaand, there’s INTFINA. Don’t get me started with that.
This weekend again, I am going to be really busy. I can’t even finish the Great Gatsby even though I planned to finish it this weekend.
-orgs to attend to
– requests to accomplish
study? read great gatsby? read manga recommended by a friend? watch anime?I can’t do all of them this weekend. I am busy as bee! D:>