How to stop or solve the poverty in the Philippines?

[Teban2006]

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We Lack Love Of Country - mostly istorya ra gyud ta kutob ani walay action

[Dakota]

Previously it was sugested that arbritarily increasing wages in the Philippines would be a viable solution to reducing poverty. This theory poses several high risks. For example, using microeconomic theory. lets assume, that the a good was produced and sold at 100 pesos. Now inceased wages caused the production cost and associated selling price to increase to 1000 pesos. This higher good is now exported to the world for sale. Buyers who used to pay 100 pesos will be unlikely to pay 1000 pesos for the same good. Competitiors will take the phils market share, and this cause a reduction in sales and a corresponding reduction in jobs and then companies. All will lose. Increasing the cost of a good or service without an increasing the related value is a recipe for disaster. Someone might suggest that the goods and services only created using these increased wages be sold in the Philippines. That would result in prurchasing power parity among those who got the increased wages (i.e., those who got paid more, had to pay more). For all those who didnt get the increased wages like retirees and tourists, would most likely flee the country due to the arbritary increase in cost of living. This would also result in jobs lost and a reduction in tourist income and GNP. In either case, the hype wage theory is not a viable economic theory.

[chromic22]

how to sop poverty? change... thats what we need.. change..change...change...

[alert0]

it should start within us. elect people na dili trapo. kay ma trapo sad ato country.

[gracia_online]

we must control our population. if our population is controlled, education will be of higher quality(because of smaller ratio of teacher to student), few will be competing for jobs, the governmnet will be able to feed the poor, and there will be lesser squatters. just observe the developed contries.

It has nothing to do with the population. Being here in Australia for 7 months now, all migrants know corruption is the major issue in the Philippines.

[Tarmac]

After reading and understanding Hyperwage, make sure to consider arguments against it as well. Read the following:

Rational Choice: Evaluating hyperwage theory - or, what have you learned from your basic economics? (1)

Rational Choice: Evaluating hyperwage theory - or, what have you learned from your basic economics? (2)

Rational Choice: Evaluating hyperwage theory - or, what have you learned from your basic economics? (3)

Make sure to read the comments section because they make for even more interesting reading.

It might be interesting to note that the Street Strategist himself (Thads Bentulan) posted on the comments section and tried to argue with the blog author. Strangely enough, he didn't pursue his arguments because he claimed he was "busy" with his book.

[cyberlady82]

Education. Give people the tools and knowledge to solve their own problems. Most people don't choose to be poor. They just don't know how to break the cycle.

[ayet7]

Education. Give people the tools and knowledge to solve their own problems. Most people don't choose to be poor. They just don't know how to break the cycle.

na-touch jud ko cyberlady82..hehehe

[al1974]

After reading and understanding Hyperwage, make sure to consider arguments against it as well. Read the following:

Rational Choice: Evaluating hyperwage theory - or, what have you learned from your basic economics? (1)

Rational Choice: Evaluating hyperwage theory - or, what have you learned from your basic economics? (2)

Rational Choice: Evaluating hyperwage theory - or, what have you learned from your basic economics? (3)

Make sure to read the comments section because they make for even more interesting reading.

It might be interesting to note that the Street Strategist himself (Thads Bentulan) posted on the comments section and tried to argue with the blog author. Strangely enough, he didn't pursue his arguments because he claimed he was "busy" with his book.

Okay- and what is Econoblogger's theory on solving povery?

[Dakota]

The answer is not arbritarily increasing wages. A country's resources are finite. The phils must minimize corruption to allow for the re-allocation of resources from the corrupt politicians to the schools and other relevant programs. educate the population so that they can compete for businesses and jobs with other countries in the world. create foreign investment vehicles that are business focused. current deals done here are saturated with fraud with no real investment return. the world doesnt trust the philippines to be honest in its business dealings. that limits the amount of capital flowing in. phils must elect honest officials who are dedicated to upholding the constituition and serving the people and not themselves. The phils must start to severly punish the corrupt officials for any real change to begin. If theres no real consequence for corruption, there will be no real change.