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Of Gloria Arroyo’s political promises, on the same credibility level as those on December 30, 2002 that lied about ambitions, eradicating poverty within a decade is another for the books. The promise was cast in 2002 at the Asia-Pacific forum of the Socialist International. It was one of four capped by the raising of the [...]
Gloria was interviewed by CNBC’s business reporter Maria Bartiromo. She bragged about how the Philippines weathered the global recession thanks to her, brilliant and far-sighted economist that she is. I am reminded of a conversation I had with a Korean who works for one of the largest Korean multinational conglomerates. We were discussing how the [...]
The standard definition of a recession is when the gross domestic product (GDP) sinks for two consecutive quarters. The additional three months is an economist’s dispensation to initial contraction. Even for politicians and presidential appointees that should be easy enough to understand. Never mind that in the convenient colloquialism too-often applied, controversy constantly confounds. There [...]
While summing up the thesis of World Bank economist Alessandro Magnoli Bocchi in “Rising Growth, Declining Investment: The Puzzle of the Philippines,” Cocoy has tried to explain the puzzle in his own words: The answer according to the same policy paper (of Bocchi) is that while foreign direct investment has fallen since the 1990s, the [...]
It isn’t much. Silicon Alley reports that Jason Calacanis’ Wikipedia-for-profit Mahalo laid off 11 of its 20-to-25 member editorial staff and two developers yesterday, says a former employee. The source tells us some of the positions will be rehired in the Philippines. (Jason says only 6-7 people were let go). About 10 Mahalo employees in [...]
In May 2008, after 2 years of research, workshops and study, the Commission on Growth and development released its “Growth Report– Strategies for Sustained Growth and Inclusive development” (Conference edition) which can be accessed and downloaded from www.growthcommission.org. The independent Commission is chaired by Michael Spence (Nobel Laureate in Economics) and composed of 19 leaders [...]
Seriously? This call by the CBCP to review the Oil Deregulation Law and E-VAT? It makes great headlines and good copy but it is a most stupid idea. I’ll listen to you guys on matter of Ethics and Faith— but please leave the economic managing to proper managers (or find the really good managers to [...]
The latest TV advertisements of President Gloria Macapagal-Arroyo have the exhortation, “Labanan ang Kahirapan.” There are a lot of things an “anti-Gloria savage” like myself would already be irritated at, but what really got me irked is the pose of the President: in her pink pantsuit and her “forward-looking” gaze, I think GMA’s image-makers are [...]
Cocoy is once again spot on. The reason politics occupies the limelight that it does is that economic activity in Pinoy society is so atrophied and impotent as to not provide enough clout to overshadow politics in people’s psyches. Interesting too, is what he said here: “the most basic thing is that anyone with resources [...]
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