ECONDEV
china- transitioning economy
compare countries' development
INFORMAL/ UNDERGROUND ECONOMY
-Mga di nabibilang (streetfood vendors)
CRITERIA OF GOOD ECONOMIC SYSTEM (Fajardo):
1. Abundance – resources
2. Stability (price, growth, employment, etc.)
3. Security – future employment, safety
4. Economic Freedom – what the gov't wants to
achieve, choice, capability to purchase, putting up
businesses (what kind)
5. Growth (measured through GDP, GNI/GNP) econ
development
6. Efficient utilization of resources – use of resources,
investment
7. Justice and Equity – equal distribution of wealth, just
compensation, academic opportunities
- having a capitalist system is not solely based on the
decision pf the gov't
- colonial mentality
*Comunism is the highest form of econ system bec of
equality but Karl Marx said that communism cannot be
achieved without revolution:
- poor fighting the rich bec the rich will not voluntarily
give their wealth to the poor
Importance of Studying Econ System
- econ system is a large factor in development
- colonies of britian is developing faster than colonies of
america (e.x. singapore, india, hongkong)
Dualism:
- North vs South
north - wealthy (land-locked)
south - poor (islands)
- Industrial vs Agricultural
quality of life should be priority
*QUANTITATIVE MEASURE
urban agriculture
-GDP (ang minemeasure ay yung final product/ total
products produced w/in the economy)
Quantitative Measure of Growth (GDP & GNI) - final
product is measured not the raw mats
-GNI (products produced in a given year)
- underground/informal economy - unregistered
business not included in measurement of GNI & GDP
Feudalism - economic system during colonization
period (spanish)
GDP - within the economy
GNI - produced by the country in a given year
First industrialized country - england
Sectors measured:
Reason for PH's econ system:
- agri, manufacturing and service
- we adapted the economic system of america which is
capitalism so that was patterned in the ph
- trade is separate (import & export)
- the ph tried being a socialist economy but the world
bank surpressed it bec of the borrowing in IMF (to
rebuild after WW2) and the term was to have a free
enterprise
HUMAN DEVELOPMENT INDEX
1. Life expectancy(hanggang kelan nabubuhay ang tao)
Corruption in Public Administration
Babae- 69
Religion
Lalaki- 67
Population
pag mataas ang life expectancy ibig sabihin maganda
buhay nila
Geography- san ka located, ano ang status mo sa likas
na yaman
2. Healthcare Services
*Labor mobility- pwede ka na magpunta sa mga bansa
na member ng ASEAN country
3. Knowledge/ Literacy rate (ilang taon nag-aral)
4. Standard of Living (Ambisyon 2040)
Determinants of Development (Fajardo)
Capital- goods used to produce other goods. can be
financial or equipment.
without capital, economy cannot function properly
Technology- better way of doing things.
Market- place where exchange of goods and services
take place
the wider and diverse the market is, faster development
(LOVE YOUR OWN is better)
Social Structure- stratification (distinguishing mayaman
at mahirap)
Open Social Structure
Close Social Structure- hindi ka pwedeng lumipat ng
estado sa buhay
Family System- basic form of society
Cultural values- pag tinatangkilik natin ang culture ng
iba naaapektuhan din ang economy natin
*positive effect- nakakapurchase ka ng magagandang
product sa kanila, may choices ka
Political Condition
-kung open ang ibang bansa, magkakaroon ng chance
ang citizens natin na magtrabaho at kumita mula sa
ibang bansa