jump to navigation

Economic Underpinnings of Culture August 22, 2008

Posted by Mark T. Market in Feedback.
Tags: , , , , ,
2 comments

Great feedback sent today by blog reader:

I want to share with you an article I came across recently which I think could explain why things are what they are. The article talked about abortion and it posits that any woman regardless of her moral or religious persuations will say that abortion is bad per se. Of course there are those currently debating the issue of whether abortion should be legalized as advocated by “pro-choice” women against the “pro-life” sector. But despite abortion being now illegal, in fact it is punishable as a crime, and despite condemnation by the church and pro-life advocates we all know that abortions continue unabated. Why does this happen when women in general consider abortion as bad per se. The writer points at the prevailing culture of liberality in sex as the culprit. When having sex has become just part of dating and done without any relation to marriage and procreation there will always be situations where a woman finds herself with an unwanted pregnancy where the casual recourse is to have an abortion and things are back to normal. This does not justify abortion it merely explains it the writer says. So until this culture is changed abortion will continue to happen. This brought to my mind some of the conditions we now have in our country like why is there no end to the Mindanao conflict despite all the efforts at peace making by the government. Perhaps, I thought, the government may not have really identified the culprit here. There must be a deeper fundamental reason to it than some moros just wanting to have their own nation. What if there is general prosperity among the people in Mindanao don’t we think the people themselves will rise against any faction, like the MILF, who will by their intransigence threaten to disrupt their prosperity. Just pondering.

My sense of the issue is that nearly everything we see prevalent in society have an economic underpinning, perhaps exceeding the cultural contribution to the phenomenon.

On abortion:

While it is true that sex, more specifically casual sex is getting more and more part of socially accepted behaviour (religious taboo notwithstanding), we should also not forget the discount that sex is also an economic behaviour. Although we do not have legalized prostitution, the fact of the matter is that paid sex is pretty much present (albeit underground) in our society ever since the Spanish era. If the writer you mention might care to dig into the statistics, he will find that sex workers account for a good chunk (maybe even the majority) of the abortions conducted.

That abortions persist is a direct result of the prevalence of paid sex–which is an economic phenomenon as much as it is cultural.

Mindanao is another example:

We often look at ideological and political, even religious reasons for why Moros want to secede and why the war continues, but we fail to examine enough the economic angles of it–and this is not merely the poverty of some areas in Mindanao. More of: Mindanao as a whole is resource rich area and practically untapped by capitalism. The energy, mining, and infrastructure interests alone are more than enough to fill the pockets of businessmen for decades–and the Moros know this as much as the establishment.

However, the war raging in that area has gone on forever due also to war profiteers who supply both sides with arms and supplies. It has been the subject of many reports that the arms the MILF use are from the AFP arsenal. When the talk “peace process” and “federalism” started gaining ground recently, I began to think that the war mongering was giving way to more serious money-making.

The Proof In The Pudding August 20, 2008

Posted by Mark T. Market in The List.
Tags: , , ,
add a comment

Was chatting with a passionate Marcos loyalist over an internet forum recently and he was laying a slippery case of how as of to date, nothing has been proven about Marcos’s corruption cases and his alleged plunder of the country’s treasury.

I replied that we need no courts to prove how bad the regime was, and whether it was by virtue of plunder or gross mismanagement, empirical data will show just how Marcos’s era stacked up in history against his predecessors and successors.

Of course, as with any fanatic or zealot, the loyalist challenged me for proof (saying that I did not know what the word ‘empirical’ meant).

The strange thing about any believer in any idea, is that they hype proofs to support their position, but are blind to any proof disproving it. If there is one thing I believe about things is that in order to fully appreciate any position–one needs to consider evidence, not only supporting a claim, but more importantly, disputing it.

There’s a popular idea of a black swan. Until some were discovered in Australia, people believed that all swans were white. However, it only took the discovery of one black swan to debunk that.

No amount of confirmatory evidence will prove any point exhaustively, however it only takes one instance of contrary evidence in order to dispute it.

No amount of white swans can prove to us that all swans are white. It only takes one black swan to disprove the idea.

Not many people are conscious of this concept in evaluating evidence. We all have a “confirmation bias”–we want to be proven correct. However, it’s those times we are proven wrong that we really learn things.

Going back to the internet Marcos loyalist, naturally, I was happy to provide him with empirical evidence.

I won’t deny Marcos’s role in the improvement of Philippine infrastructure and other developments. But we don’t measure economic progress solely on that level. Judge for yourself.

Wagging The Dog And The Ossetia Conflict August 15, 2008

Posted by Mark T. Market in Reflections.
Tags: , , , , ,
add a comment

Great preamble by Ellen Brown on her article:

Fannie Mae and Freddie Mac had just announced record losses, and so had most reporting corporations. Unemployment was mounting, the foreclosure crisis was deepening, state budgets were in shambles, and massive bailouts were everywhere. Investors had every reason to expect the dollar and the stock market to plummet, and gold and oil to shoot up. Strangely, the Dow Jones Industrial Average gained 300 points, the dollar strengthened, and gold and oil were crushed. What happened?

Ellen draws a web of deceit of how powers such as the US trigger world events to their own economic advantage. Wars are only about ideologies and politics on the surface. At the core, its business and profit.

Capitalism turned on its head.

The Big Mac explains global economics June 7, 2008

Posted by Mark T. Market in Quotables.
Tags: , , , , , , , , , , , , , , , , ,
2 comments

Actually the Big Mac Index, popularized by The Economist, was a good study in Purchasing Power Parity between countries.  Thads Bentulan, in his Hyperwage Theory, drew a third-dimension to the analysis, by putting Big Mac prices against the minimum wages of various countries, and drawing his own version of Purchasing Power Parity, measured in Big Macs.

I did my own simple version of Bentulan’s study, using readily available minimum wage data and big mac prices and compiled the following table:

The results are a fairly accurate projection of the economic standings of these countries. Seeing as minimum wage is a representation of the purchasing power of the majority of the economic agents in those countries, regardless of foreign exchange rates, indifference curves, and other economic mumbo jumbo, the Big Mac analysis gives us immediate insight of the ability of those countries to generate wealth and productivity for themselves.

No rocket science needed. Just an open mind.

Now, from that table, is it any surprise why there are a growing number of:

  1. Filipino Domestic Helpers in Hong Kong
  2. Filipino Entertainers in Japan
  3. Filipino Construction Workers in Saudi Arabia
  4. Filipino Caregivers in the UK
  5. Filipino Babysitters in Taiwan
  6. Filipino Nurses in the US