Nearly half of the Filipinos are poor, more than 25 percent are extremely poor, a terrible violation of human rights. Some weeks ago I explained that a “Social Market Economy,” which neither tolerates the inhuman consequences of purely profit-driven capitalism nor does it repeat the mistakes of socialist state-centralism, would be the concept of choice for sustainably overcoming poverty in the Philippines. The dignity of each human being is its core value, the market mechanism built on fair competition its main steering mechanism, a strong but subsidiary state, protecting openness and fairness of the markets and providing its citizens with a supportive framework for free and productive work and life in dignity, its guardian.
Published in Commentaries