ECONOMIC PROGRESS AND HUMAN ADVANCEMENT IN THE PHILIPPINES

CONTEXT

IN PARTIAL FULFILLMENT OF REQUIREMENTS

OF FACULTY OF BACHELOR OF SCIENCE IN ACCOUNTANCY

IN THE SUBJECT OF ECONOMIC DEVELOPMENT

ECOPE05

RESEARCHED BY:

VILLANUEVA, KHAYLLE N.

SUBMITTED TO:

ANTHONY CALDERON

ECONOMIC DEVELOPMENT PROFESSOR

MARCH 2023
ABSTRACT

This term paper is entitled “ECONOMIC PROGRESS AND HUMAN ADVANCEMENT IN

THE PHILIPPINES CONTEXT”. In this term paper, we will learn the meaning of the

following terms: economic progress, human advancement, and Philippine context so

that we can truly understand the meaning behind the title of this term paper. I'll define

and explain it thoroughly, so you understand what I'm talking about. This term paper will

be very interesting to read and very important to be read because you will discover

things that will be very useful to you as a person and that you will be able to use and

apply in your daily life. Further research is needed to identify the economic progress

and human advancement in the Philippine context.

INTRODUCTION

The purpose of this study is to determine to know what Economic Progress and Human

Advancement in the Philippine Context are. Furthermore, this paper provides a strategy

to resolve the problem. Economic progress is economic growth that occurs when the

production of goods and services increases over a given period when compared to the

previous one. It is commonly measured in terms of GDP and serves as an indicator of a

country's economic health. When economies grow, states can tax that revenue to gain

the capacity and resources necessary to provide the public goods and services that

their citizens require, such as healthcare, education, social protection, and basic public
services. In addition to the benefits provided by the state, inclusive growth results in

broader material gains. Growth generates wealth, some of which ends up in the pockets

of employers and employees, improving their well-being. People can escape poverty

and improve their living standards as their incomes rise and their spending habits

improve. Human progress improves people's fundamental life interests, which are

represented by health, wealth, knowledge expansion, technology, and freedom, with the

goal of increasing happiness throughout society. These factors contribute to humanity's

acquisition of better and more complex forms of life. The Philippines' economy has been

one of the most dynamic in the East Asia Pacific region. Between 2010 and 2019,

average annual growth increased to 6.4%, up from 4.5% on average between 2000 and

2009. The Philippines' economic dynamism is rooted in strong consumer demand,

which is supported by a vibrant labor market and robust remittances, owing to

increasing urbanization, a growing middle class, and a large and young population.

Business activity is brisk, with notable performance in the services sector, which

includes BPO, real estate, tourism, and the finance and insurance industries.

BODY

The Filipino works best on small scale tiny figurines, small pots, gold or silver filigree

work, decorative arabesques. The implication is that we are up to the small challenges

but are intimidated by the big ones. The Filipino prefers to work with soft, easy materials

such as clay and molten metal because hardstone has yet to yield anything truly

monumental. Even carabao horn, an obvious material for native craftsmen, has not
been used to anywhere near the extent that ivory has been used in the ivory countries.

The implication is that we feel equal to yielding materials but avoid the challenge of

resisting materials. that once we have mastered a material, craft, or product, we tend to

get stuck in it and do not progress to the next phase, a larger development, based on

what we have learned. In fact, when confronted with a challenge from outside of

something more masterful, we immediately lay down what mastery we already have,

rather than being provoked to develop by the threat of competition. Faced with the

challenge of Chinese porcelain, the native art of pottery simply declined, even though

porcelain should have been the next step for our potters. There appeared to be no

attempt to steal and master Chinese arts. The excuse offered here that we did not have

the materials for the techniques for making porcelain unites yesterday's pottery makers

and today's would-be industrialists in glum brotherhood. The indigenous pot was buried

by Chinese porcelain, just as Philippine tobacco is still buried by the blue seal. Since the

turn of the century, and especially since the war, there seems to be a return to the

tradition of timidity, the legacy of smallness. We appear to be putting in less effort,

thinking less and acting less. The air sinks with a sense of inadequacy. We can't handle

it; we are not responsive; and we do not face challenges. Ours should not be a difficult

land to connect with transportation, but we are crushed by small jeepneys, killed by

small trains, and drowned by small boats. Bigger and more populous cities around the

world have no problem keeping themselves clean but garbage can cause a "crisis" in

the small city of Manila. After witnessing the traffic chaos in Manila, one American said

he began to appreciate how his city of Los Angeles handles far, far greater volumes of
traffic. Is it beyond our ability to build a road that won't fail when it rains? Is building

sidewalks too difficult for us?

RESULT

As a result, Economic progress, and Human Advancement in the context of the

Philippines are that. It would not be bad if our aversion to greatness and clinging to

smallness indicated a preference for quantity over quality; however, the little things

we've been doing forever often end up worse than the mass-produced article. Our

couturiers, for example, grew a pulse after months and months of waiting for a pin a

weaver to produce a yard or two of cloth only to discover that most of it was sloppily

made. Foreigners who thought they could push the Philippines into the global textile

market were disappointed when they saw our inability to deliver in quantity. Our

proudest apology is that mass production will destroy the "quality" of our products.

However, if forced to meet mass-production standards, Philippine-made products may

suffer. What is happening in our country is that instead of putting in extra effort to be

globally competitive, we are slowly thinking because we are paralyzed by the fear of not

achieving. We have abundant natural resources. All we have to do is think creatively to

create something that will capture the world's attention. We all know that many Filipinos

are skilled in various fields. What we should do is not limit ourselves to a single

invention. We should always be challenged. Don't stop coming up with new ideas. We

must show the world that we are more than a source of raw materials.
DISCUSSION

The Philippine population is growing much faster than the Philippine economy. When it

comes to development, our country has indeed been as slow as a snail. It takes many

years, if not decades, for us to make even a small step toward modernization. Other

countries, such as our neighbor Singapore, which was colonized by a more powerful

country, were able to rise and become more productive. However, the Philippines'

position in the world has remained static over the years. Instead of becoming more

globally competitive, we tend to sit back and relax, accepting that our development is

deteriorating. What I want to emphasize is that the Philippines, despite its relatively

large and growing population, has always been "divided like an amoeba." Instead of

working together for our country, we have a crab mentality where we want to bring down

successful people. This, I believe, is the most obvious reason why we are shrinking. In

politics, for example, we often divide into groups and constantly find ways to let others

down. We have nothing to gain as a result. We are only scaring away foreign investors,

who will help us in our current economic activities.

REFERENCE

Team, I. (2021, January 1). What Is Economic Growth and How Is It Measured?

Investopedia.

https://www.investopedia.com/terms/e/economicgrowth.asp#:~:text=Economic

%20growth%20occurs%20when%20there,economic%20health%20of%20a

%20country.

Why should I care about economic growth? (2021, January 26). UNU-WIDER.

https://www.wider.unu.edu/publication/why-should-i-care-about-economic-

growth#:~:text=Economic%20growth%20increases%20state

%20capacity,protection%20and%20basic%20public%20services.

D. (2023, March 21). A Heritage of Smallness In The Philippines Summary Essay

Paper Sample - PHDessay.com. Free Essays - PhDessay.com.

https://phdessay.com/a-heritage-of-smallness