How to stop or solve the poverty in the Philippines?

[grovestreet]

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You're overly confident in many ways, one of which is your intelligence level. You really believe that the solution for years of poverty lies in a book written by an unrecognized author of a theory who himself probably lives at or near the poverty level? If you want to learn about making more money, you should talk to someone who has made a lot of money and find out how THEY did it.

lol, so you're saying that if you wish to know the intelligence of a person, you should consult his bank account?

hehe.

[Vince Russo]

lol, so you're saying that if you wish to know the intelligence of a person, you should consult his bank account?

hehe.

Nope. What I suggested was that if you want to learn about how to make money, you should to talk to person who has made a lot of money, not a poor person. In no way did I, or would I ever equate financial status with intelligence.

[Vince Russo]

Mr vince,
you miss the point and it has been repeated a thousand times.
there will always be poor people, and they greater in number! anywhere in the world!

BUt focus on the main issue; A pinoy worker in USA at the end of the day is able to send extra cash to the Phils, but the pinoy worker in the phils cannot send cash to the USA.

read teh chapter on THE MYTH of CHEAP COUNTRIES bec it seems you are a victim of that myth.

New lingo: Affordability Index (added to your Non-linear lingo already learned)

Which is a cheaper country, USA or Phils?

Of course, USA is cheaper!

Read the chapter.

PS And yes Im angry for having low wages! iM NOT blaming my managers who earned hgh bec they deserve it. I blame the govt (actually, bentualn does.) for not protecting the poor

Henry SY is too rich he cant spend it all but he pays his US consultants at hyperwage sallary but does not give that much to local workers? (not same amount).. talkng about labor wage in general

I give up. I hope you find a cure for poverty in the Philippines. The people here are fantastic and they deserve a chance at a better life. Please don't post a reply to this posting. Just accept my heartfelt good luck to the people here and please do your best to find a solution.

[Tarmac]

Mr. Tarmac!!

You are now a Hyperwager! You post below captures the essence of the hyperwage theory.

Welcome to the club!

How to implement? The Hyperwage says, one ways is 14th month law, the 15th monthly 16th month law. (slow but in the right direction).,

We can also spread out the increase in over 5 years (20,000 in REAL wage not nominal wage)

but bentulan says he will be happy if we are all convinced that increasing wages should be desired not avoided.

and that is how we go from here: change our mindset.. if there's a will, there's a woowwoweee.

I told you from the start questioning Hyperwage is not the same as rejecting it. Asking questions about Hyperwage is not the same as not understanding it. On the other hand, understanding it is not the same as accepting it either. Because I still have lingering questions on some points. But for the sake of moving the discussion forward...

Believe it or not, my introduction to the concept of Hyperwage predates my reading of Bentulan. It was something already discussed as far back as my college macroeconomics class circa 1987, although we didn't have a name for it. Our professor asked the not-so-simple question, "How do we eliminate poverty?" and it engendered a lively discussion that stretched over the entire week. Of course, the flippant solution of "killing the poor" was good for a few laughs but nothing came of it.

One of the solutions put forward was raising wages to increase the citizenry's purchasing power. Hyperwage, if you allow. We all agreed that increased purchasing power was key. This is not new, of course. It is already axiomatic in Keynesian thought.

The primary objection was, of course, inflation and the need for government to step in to stabilize the monetary situation Keynesian-style (at least in the interim). There would be a need to increase the money supply by printing money which must be matched by an output increase to forestall currency devaluation or inflation, or borrowing through T-Bills, which could raise interest rates. We ran out of time because we had to go back to our Samuelson and Sicat textbooks and the lesson plan.

My issue with boosting wages to the levels Bentulan specified is the ability of businesses to sustain the increases over X period of time without going out of business. The five years you mentioned is too short and will be certainly fatal. As a business owner, I know what my particular business can sustain and it certainly cannot sustain a 10-fold increase in wages over 5 years.

We are not in any way related to Henry Sy or Lucio Tan although Mr. Bentulan seems to think all employers are. Speaking for ourselves, we do not have massive savings locked up in a private vault somewhere deep within the bowels of a mansion and most of our income actually goes back into the business in the form of investment.

In effect, in implementing Hyperwage would there be a net increase in purchasing power? Would there be a net increase in aggregate demand? The employer's money has simply been transferred to the employees. I know that employees supposedly have a higher propensity to consume than the employers, and consumption rather than investment spending forms a larger part of aggregate demand, but what happens to our ability to reinvest in our business and make it grow? And because we cannot grow our business, neither can we grow our employees' wages on a sustained basis.

Even accepting that domestic demand is boosted and demand for our business's products and services does go up, our ability to meet the increased demand is directly tied in to our ability to invest. But alas, our hard-earned corporate savings have now been depleted by the requirement to boost our employees' salaries.

Again, we are not Henry Sy or Lucio Tan. We do not spend our money buying luxury cars, yachts, vacation homes in Aspen or expensive watches and we do not have factories or businesses in labor-cheap China to cushion the consequences of the suddenly-increased cost of doing business in the Philippines. And most business owners do not either.

In essence, employers are going to be out of pocket at the initial point of implementation of Hyperwage.
Is government going to step in to help us out? Should it? Or more importantly, can our perennially cash-strapped government even do so?

Remember we are talking about early implementation. And from there, even more questions arise. But a few issues at a time.

[davanitz]

Nope. What I suggested was that if you want to learn about how to make money, you should to talk to person who has made a lot of money, not a poor person. In no way did I, or would I ever equate financial status with intelligence.

really that having tons of money makes you and intelligent person

[davanitz]

Nope. What I suggested was that if you want to learn about how to make money, you should to talk to person who has made a lot of money, not a poor person. In no way did I, or would I ever equate financial status with intelligence.

you also mean that we have to ask my chavit singson on how to run this country?? are we going to run more hueting or gambing capital of asia?? are we going to ask those congressman/president/mayor/governor who hoard all our taxes?? is this how you base intelligence??

[Vince Russo]

really that having tons of money makes you and intelligent person

You are totally misunderstanding what I wrote. I made NO connection to intelligence and money in my post! As I explained to grovestreet (3 or 4 posts above yours), my advice to foolonthehill was: if you want to learn how to make money, you should talk to a person who has made a lot of money and ask them how THEY did it. Just as in the case of, if you want to learn how to be a good plumber, you ask someone who is a GOOD plumber, not an inexperienced one. Simple advice, that's all.

Comprende?

[Vince Russo]

you also mean that we have to ask my chavit singson on how to run this country?? are we going to run more hueting or gambing capital of asia?? are we going to ask those congressman/president/mayor/governor who hoard all our taxes?? is this how you base intelligence??

This ridiculous comment is based on your previous misunderstanding, obviously. You should slow down and make sure that you understand what you are reading before spouting off to prevent sticking your foot in your mouth... not once, but twice. But I do agree with your abridged assessment of your gov't officials.

[haroldjizdeortega]

legalize abortion, period.

[juan penduko]

sayon rani pagsulbad oi. LET FOOL.ONTHEHILL BE THE NEXT PRESIDENT. DAGAN NALANG PAGKA PRESIDENTE SA KAPILYA. ur asking comment or suggest about this topic. and then imong supakon, kontrahon, ug uban pa. bright ka? brightt ka? y dont u make ur own republic. the FOOL REPUBLIC. maybe this ur book. wala lang nahalin. coz walay lami. edot