This website uses cookies to ensure you have the best experience. Learn more

Why Filipinos Are Not Rich Essay

3022 words - 13 pages

Why Filipinos Are Not Rich
he Street Strategist has arrived at the conclusion that the poor Filipinos are not rich because they do not have money. This is a very simple concept but it takes a genius to appreciate its simplicity. You may notice that I am trying to explain “why Filipinos are not rich” in contrast to “why Filipinos are poor.” Is there a difference? Yes, there is. In asking “Why Filipinos are not rich,” the implication is that the normal state of events should be that Filipinos are rich and we have to explain if ever they are not in the normal state, that is, we have to explain why Filipinos are not rich when supposedly they should be rich. Diminishing circle Anyway, let us ...view middle of the document...

Thus, we are locked in an ever diminishing circle. Community of inequality Let’s view this from another perspective. According to a World Bank study, 1/3 of the wealth of the Philippines is owned by only 5% of the Filipinos. This is a huge disparity. This is an egregious distribution of wealth. In economics, the Gini coefficient is the measure the gap between the rich and the poor. What does this statistic mean? Try to visualize a community of 100 of your friends. For every PhP100 spent within this community, after all is said and done, these expenditures and incomes will eventually settle as asset or wealth distributions. Of every PhP100 in asset, PhP33.3 goes to only 5 of your friends (PhP6.70 per pax). The balance of P66.6 is distributed among the reminding 95 friends (PhP0.70 per pax). Can you imagine how inequitable that is? That’s a ratio of 9.5 to 236

Why Filipinos Are Not Rich

1, or 950%. And did you forget something? Those 5 friends of yours were actually not doing any work at all. They were playing golf all day, while your other 95 friends were the ones toiling under the hot sun, fighting against each other, backstabbing each other, and knocking on doors at night to sell products. Is that fair? What is really callous is that your rich 5 friends have billions of money that they could not possibly consume in ten lifetimes. Single solution And yet you ridicule me for proposing a single solitary action, that is, a legislated minimum wage of P20,000 ($400 at $1=PhP50)? Please remember, I am not advocating communism, socialism, or confiscation of property. I am only advocating the correct valuation of labor, the world market price for labor. Why can’t our teachers be paid like the teachers in Singapore? And Singapore has zero natural resources to rely on unlike the Philippines? Squander Myth: The Filipinos are poor because they squander money. I heard so many upper class people say this. I even heard on radio somebody who cited their rich neighbor whose children squandered their inheritance. But many Filipinos are fortunate enough to inherit wealth? A few thousands? We have about 35 million workers, and that’s the majority. They have nothing to squander. Job search Myth: The Filipinos don’t look for jobs. I find this too simplistic. Filipinos are looking for jobs so much so that millions of Filipinos in search of work worldwide. Maybe there are too few jobs here in the country. I have repeated many times why is there only a few jobs around. That is why I wrote several chapters on the topic of job creation as a result of the Hyperwage Theory. 237

Thinking Time: The Misadventures of the Street Strategist Vol. 12

Maybe the jobs are not paying well enough. If the actually wages are lower than the threshold reservation wage (the point at which the worker is indifferent if he has a job or not), then maybe that’s the reason they do not apply for jobs. Remember if you work in the US for one year that is equivalent to 10 years in the...

Other Essays Like Why Filipinos Are Not Rich

In Our Image: a Reflection Essay

596 words - 3 pages brutal war. The Phil-American war was definitely a very bloody war. The Filipinos, who just recently freed themselves from the Spanish now faces a new invader, who once disguised as a friend and ally. It was a very brutal war. A lot of lives were lost from both sides. The church bells of Balangiga are witnesses of the atrocities committed not only by the Americans but also by the Filipinos. However, the new imperial masters had a different face

Ethnic Groups and Discrimination Essay

1178 words - 5 pages . The Philippines celebrated their independence form Spain on June 12, 1898 and appointed a man named Emilio Aguinaldo as their president. The United States had pulled the wool over the Filipinos eyes and lead them to think that they were finally free, when in fact they were not. This ended up starting the Filipino-American

Divergent

982 words - 4 pages are linked to heart disease. 5. Eat more vegetables, fruits and root crops. In general, most people do not eat enough vegetables, fruits and root crops. Results of food consumption surveys conducted by the FNRI show that the average consumption of green leafy vegetables, vitamin C-rich fruits and root crops are low in the Filipino diet. The consumption of more vegetables, fruits and root crops is encouraged to help correct the

Swot Analysis: Rizal Law

1965 words - 8 pages he pursued his studies until he was able to travel to different places and encountered different challenges. We can’t as well forget his two of his great works Noli Me Tangere and El Filibusterismo. And the event on how he died in Luneta is still in our memories as we observe Rizal Day on December 30 yearly. We Filipinos are until today educated about Dr. Rizal. One can possibly wonder why we are studying our national hero as a subject itself

Music Feature

1170 words - 5 pages Who are your favorite international recording artists? And why do you like them? Lets find out who got in the top 10 list of most loved International Recording Artists. On the 10th spot is Nicki Minaj. Nicki Minaj is significantly known for performing rap songs such as Fly, Pinky Fiday, and her most popular “Super Bass.” Unlike her other songs, “Super Bass” scored the Hot 100 of Billboard, and it got million hits on Youtube. And because of this

What Is Good Government to Me?

1378 words - 6 pages - or should at least feel- that they are not stuck in a stagnant state of living. Double standard. This is for the poor, and that is for the rich. This is a mentality that seems to feast on the minds of Filipinos for so many years now. A barrier seems to exist among brackets and classes; people may have taken the term “poverty line” quite literally. A virtual Caste system is building up among the classes and the true essence of democracy is

just random

503 words - 3 pages coin.First, I would like to commend the president for making an effort to give the SONA in Filipino and for not giving theoretical measurements on the health of the economy which may be helpful to those Filipinos who're intelligences are challenged. He gave us more concrete examples on the current's shape of the economy like the recent achievements, the increase of jobs, more books and classrooms, and the likes.I am no expert in dissecting and

Sandwich Marketing

798 words - 4 pages custard). Nowhere else in Asian cuisine can cheese and canned tomato sauce be found in recipes. All of these foods are still favorites of the Filipinos and can be found almost anywhere in the country. About 22 percent of the population of the Philippines are classified as undernourished by the World Bank. This means they do not receive adequate nutrition in their diet. Of children under the age of five, about 30 percent are underweight, and

Culture Essay

1671 words - 7 pages society may not understand why the American facility would only use a hierarchy for organization within the company. The American facility would also be planning ahead and trying to be prepared for the future, which is something that the Filipinos do not practice within their culture. Overall, I think that it would be difficult to open a new facility coming from America into the Philippines but that the differences between the two societies can be overcome. It would only take some minor adjustments on the American side to fit into the Filipino society. Because both countries are extremely masculine, they would fight to make the facility successful no matter what.

Teenage Social Warfare

520 words - 3 pages Filipino Values Philippines, having been an archipelago, have not become a hindrance towards having a single values system throughout the country. In whatever part of the country you may be, one will find the same hospitality that the Filipinos are known for as well as many other values that have originated from our forefathers. The values of Filipinos have been looked upon by foreigners as a weakness instead of strength due to the nature of

A WALK IN MY LIFE

1379 words - 6 pages that, no wonder we are still in the third world having to give no significant importance to our youth’s education and at the same time the destruction of our own culture. As Barth Suretsky, an American expat who lived and died in the Philippines said, the fundamental thing wrong with this country is a lack of pride in being Filipino. “ All Filipinos want to be something else. The poor ones want to be American, and the rich ones all want to

Related Papers

Why Microfinance Institutions Are Not Sustainable

1537 words - 7 pages Why are some Microfinance Institutions not sustainable Ghana Christian University College SDM 201222101014 Introduction to Microfinance Mr. Sam Quin Word Count: 1273 Nov. 11, 2014 Table of Content Pg Introduction 3 Definition of Terms 3 Sustainability of Microfinance Institutions 4 Why some Microfinance are

Are Costco's Prices Too Low? Why Or Why Not?

2635 words - 11 pages are present? What recommendations would you make to Google's top-management team to sustain its competitive advantage in the search industry? How should it best capitalize on its strategic initiatives in smartphones and other ventures? (\l LIJ .n U ASSTGNMENT QUESTTONS l. 2. 3. 4, 5. What is Costco's business model? Is the company's business model appealing? Why or why not? What are the chief elements of Costco's strategy? How

Alternative Energy In The United States: Why Biofuels Are Not A Sustainable Alternative

3570 words - 15 pages made fuel source seems like a dream come true, the idea is nothing more than just that, a dream. BioWillie is unfortunately incorrect in its assertions about green fuels. Green fuels are in fact not a renewable fuel; they are detrimental to the environment; and they will increase, not decrease, America’s dependence on foreign oil. In order to alleviate the United States’ dependency on oil, other energy alternatives, such as the hybrid electric

Technology Is Revolutionizing The Way Students Learn. But Not Everyone Believes These Changes Are Positive. Do You Believe Technology Is Having A Beneficial Effect On Education? Why/Why Not?

576 words - 3 pages Although there is some schools do not use computers to teach students in their school, the number of school using computers is increasing very fast into the whole world. In some schools, they are not using the white, or black board to teach the students, they recently started to use electronic board, which could be erased very quickly without any mess. Using technologies in school needs a lot of money to change everything. As the technologies