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Major 13 - Topic 3
Major 13 - Topic 3
Paniqui, Tarlac
Diversity means understanding that each individual is unique, deflators of China, Japan, the United Kingdom, the United States,
and recognizing their individual differences. These differences can and the Euro Area.
be along the dimensions of race, gender, ethnicity, gender and Of the 145 developing countries that are full members of the
sexual orientation. United Nations, 90 have fewer than 15 million people, 83 fewer than
These are the critical components for structural diversity of 5 million. Large and populated nations like Brazil, India, Egypt, and
nations: Nigeria exist side by side with small countries like Paraguay, Nepal,
Jordan, and Chad. Large size usually presents advantages of
A. Historical Background diverse resource endowment, large potential markets, and a lesser
Most African and Asian nations were at one time or other dependence on foreign sources of materials and products. But it
colonies of Western European countries, primarily Britain and also creates problems of administrative control, national cohesion,
France but also Belgium, the Netherlands, Germany, Portugal, and and regional imbalances. As we shall see that there is no necessary
Spain. The economic structures of these nations, as well as their relationship between a country's size, its level of per capita national
educational and social institutions, have typically been modeled on income, and the degree of equality or inequality in its distribution of
those of their former colonial rulers. Countries like those in Africa that income.
that only recently gained their independence are therefore likely to
be more concerned with consolidating and evolving their own C. Resources
national economic and political structures than with simply Country's potential for economic growth is greatly influenced by
promoting rapid economic development. Their policies (e.g., the its endowments of physical resources (its land, minerals, and other
rapid Africanization of former colonial-held civil service jobs) may raw materials) and human resources (both numbers of people and
consequently reflect a greater interest in these immediate political their level of skills).
issues. The natural resources of the Philippines include copper, timber,
Perhaps more important, the European colonial powers had a nickel, petroleum, silver, gold, cobalt, and salt. Most of the country’s
dramatic and long- lasting impact on the economies and political metallic minerals, including gold, iron ore, lead, zinc, chromite, and
and institutional structures of their African and Asian colonies by copper, are drawn from major deposits on the islands of Luzon and
their introduction of three powerful and tradition-shattering ideas: Mindanao.
private property, personal taxation, and the requirement that taxes The Visayas are the principal source limestone for cement,
be paid in money rather than in kind. As we will discover later, these marble, asphalt, salt, sulfur, asbestos, guano, gypsum, phosphate,
ideas combined to erode the autonomy of local communities and to and silica. Petroleum and natural gas are extracted from fields off
expose their people to many new forms of potential exploitation. the northwest coast of Palawan. In the realm of human resource
In Latin America, a longer history of political independence plus endowments, not only are sheer numbers of people and their skill
a more shared colonial heritage (Spanish and Portuguese) has levels are important, but so also are their cultural outlooks, attitudes
meant that in spite of geographic and demographic diversity, the toward work, and desire for self-of nonmetallic minerals, including
countries possess relatively similar economic, social, and cultural improvement. The level of administrative skills will often determine
institutions and face similar problems. In Asia, different colonial the ability of the public sector to alter the structure of production and
heritages and the diverse cultural traditions of the indigenous the time it takes for such structural alteration to occur. The Human
peoples have combined to create different institutional and social Resources of the Philippines Aside from natural resources is one of
patterns in countries such as India (British), the Philippines the bases of economic development. Its people are the most
(Spanish and American), Vietnam (French), and Indonesia (Dutch). important resource of any country. It is important to understand how
people utilize and develop natural resources based on their
B. Size and Income Level character, diligence, and creativity. In fact, humans serve as the
The sheer physical size of a country, the size of its population, “driver” of the world since the direction of it depends on them.
and its level of national income per capita are important The current population of the Philippines is 110,663,267 as of
determinants of its economic potential and major factors Wednesday, March 31, 2021, based on World meter elaboration of
differentiating one Third World nation from another. the latest United Nations data. The Philippines population is
The World Bank assigns the world’s economies to four income equivalent to 1.41% of the total world population. The Philippines
groups—low, lower-middle, upper-middle, and high- income ranks number 13 in the list of countries (and dependencies) by
countries. The assignment on Gross National Income (GNI) per population.
capita (current US$) is calculated using the Atlas method. The In the realm of human resource endowments, not only are sheer
classification is updated each year on July 1st. numbers of people and their skill levels important, but so also are
The classifications change for two reasons: In each country, their cultural outlooks, attitudes toward work, and desire for self-
factors such as economic growth, inflation, exchange rates, and improvement.
population growth influence GNI per capita. Revisions to national Moreover, the level of administrative skills will often determine
accounts methods and data can also influence GNI per capita. To the ability of the public sector to alter the structure of production and
keep the income classification thresholds fixed in real terms, they the time it takes for such structural alteration to occur. This involves
are adjusted annually for inflation. The Special Drawing Rights the whole complex of interrelationships between culture, tradition,
(SDR) deflator is used which is a weighted average of the GDP religion, and ethnic and tribal fragmentation or cohesion. Thus, the