Philippines economic system Essay
Equality of Income Distribution Income of Filipinos, which are most commonly measured by household or individual, is distributed in an uneven manner It is noted that the income of the Philippines’ richest ten percent of the population was in fact twenty times the income of the poorest ten percent of the population One main factor of economic inequality is the lack of adequate education opportunity in the country Abundance Large of Philippines economy is based on Agriculture. As you can see a large part of the Philippines land is suitable for farming. There are also good mining opportunities within the country, with good reserves of nickel, copper and chromites.
Economic Sovereignty Multi-millionaire businessmen owning large companies in the Philippines have been controlling wide scopes in country’s economy. This results to the division between the miniscule elite and the masses including the sinking middle class Recommendations Philippines should invest begrime on its education system. The more educated the people are, the more they are productive. The more they become productive, the more the economy will be strong. Investing to Filipino scholars to study abroad might also help. Because after they are done with their studies, they can take home their knowledge
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