I’m currently co-teaching basic macroeconomics at the UP School of Economics, and to kick off the semester I asked my students to share how they were personally affected by the recession. There were stories of parents losing their jobs, family businesses closing down, tighter budgets, students taking on side hustles, etc.
Putting money in the hands of people seems the obvious solution, and even leading businessmen are saying as much., “People will have lesser and lesser money in the course of time. They don’t have jobs. Demand continues to contract and then businesses will suffer as a consequence. It makes recovery much harder to accomplish.” Meanwhile, Jaime Augusto Zobel de Ayala
More and more governments have moved in the direction of colossal aid, as exemplified by US President Joe Biden’sEconomists abroad are also changing their tune when it comes to handing out massive economic relief. The goal is not so much to stimulate economic activity but to. Such aid also needs be targeted to the extent possible.
In any case, Filipinos need aid fast. By flatly refusing proposals for large-scale economic relief, Duterte’s economic managers are inadvertently responsible for delaying the economy’s recovery – and are shooting themselves in the foot.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.