World Capitalist

System,
Neoliberalism, and
Inequality
Based from the book Understanding Culture, Society and Politics by
Gerry M. Lanuza and Sarah Jane S. Reymundo
 World System Analysis
(Wallerstein)
• Core or Advanced Industrial Countries – do capital-intensive, high
value-adding production
• Peripheral Societies or Less Developed Countries – do labor-
intensive, low value-adding production.
 Neoliberalism
(Plehwe, Walpen, Neunhoffer)
- Is a plural set of ideas rather than as a singular body of economic
theory.
- An attempt to challenge the growing power and influence of the
state over the market.
Social Scientist are divided
between:
- Globalization promotes economic growth
- Globalization is increasing the gap between the rich and poor

Distinction between:
- Globalization – a universal process of shrinking the globe into small
village.
- Globalism – an ideological version of neoliberal globalization.
 Inequality
• The Economist – “Growth really does help the poor: in fact it raises
their incomes by about as much as it raises the incomes of everybody
else… In short, globalization raises incomes, and the poor participate
fully”
• von Hayek - “Inequality is not regrettable, but highly pleasing…
Those who attack the rich forget that most of them created jobs in the
course of becoming rich and so they have helped more people than if
they had given money to the poor”
 Inequality
• Joseph Stiglitz – “ the respective deregulation and opening of
markets have not led to prosperity for all. On the contrary, today it is
clear that globalization has led to a large number of losers, especially
in the South, but also in industrialized countries, with only some rich
people having been able to benefit”
• Oxfam – “The wealth of the 1% richest people in the world
amounts to $110tn, or 65 times as much as the poorest half of the
world”
 World Richest
• Forbes Magazine
• United Nations University’s World Institute
for Development Economics Research
 Complete List: 50 Richest
Filipinos in 2014
The collective wealth of the 50 richest people in the Philippines reached $74 billion
in 2014 equavalent to a ¼ of the country’s GDP.
 Complete List: 50 Richest
Filipinos in 2014
1. Henry Sy and Family
- Net Worth of $12.7
Billion
- Age (89)
- Origin of Wealth:
Diversified
2. Lucio Tan and Family
- Net Worth of $6.1 Billion
- Age (80)
- Origin of Wealth:
Diversified
 Complete List: 50 Richest
Filipinos in 2014
3. Enrique Razon, Jr.
- Net Worth of $5.2
Billion
- Age (54)
- Origin of Wealth:
Ports
4. Andrew Tan
- Net Worth of $5.1
Billion
- Age (62)
- Origin of Wealth:
Diversified
 Complete List: 50 Richest
Filipinos
5. John Gokongwei, Jr.
in 2014
- Net Worth of $4.9 Billion
- Age (87)
- Origin of Wealth –
Diversified

6. David Consunji
- Net Worth of $3.9 Billion
- Age (92)
- Origin of Wealth –
Construction
 Complete List: 50 Richest
Filipinos in 2014
7. George Ty and Family
- Net Worth of $3.7 Billion
- Age (81)
- Origin of Wealth:
Banking
8. Family Aboitiz
- Net Worth of $3.6 Billion
- Age (-)
- Origin of Wealth: Diversified
 Complete List: 50 Richest
Filipinos
9. Jaime Zobel de Ayala in 2014
and Family
- Net Worth of $3.4
Billion
- Age (80)
- Origin of Wealth:
Diversified
10. Tony Tan Caktiong and
Family
- Net Worth of $2 Billion
- Age (61)
- Origin of Wealth: Fast
Food
 Complete List: 50 Richest
RANK
Filipinos
NAME
in
NET WORTH
2014
AGE ORIGIN OF WEALTH
11 Robert Coyiuto, Jr. $1.8 Billion 61 Power
12 Lucio and Susan Co $1.7 Billion 59 Retailing
13 Emilio Yap $1.5 Billion 88 Banking
14 Manuel Villar $1.5 Billion 64 Real estate
15 Inigo & Mercedes $1.2 Billion 58 Diversified
Zobel
16 Alfredo Yap $1 Billion 70 Diversified
17 Andrew Gotianun $955 Million 86 Real Estate
18 Vivian Que Azcona & $935 Million - Retailing
Family
19 Eduardo Cojuangco $870 Million 79 Food and Drinks
20 Beatrice Campos & $825 Million - Pharma
Family
 Complete List: 50 Richest
RANK
Filipinos
NAME
in
NET WORTH
2014
AGE ORIGIN OF WEALTH
21 Ricardo Po Family $770 Million - Canned Food
22 Oscar Lopez &Family $700 Million 84 Media
23 Alfonso Yuchengco & $685 Million 91 Diversified
Family
24 Roberto Ongpin $680 Million 77 Diversified
25 Betty Ang $670 Million - Food
26 Dean Lao $625 Million 55 Chemicals
27 Manuel Zamora $620 Million 74 Mining
28 Carlos Chan $550 Million 73 Foods
29 Jorge Araneta $510 Million - Real Estate
30 Mariano Tan, Jr. $445 Million 52 Pharmaceuticals
 Complete List: 50 Richest
RANK
Filipinos
NAME
in
NET WORTH
2014
AGE ORIGIN OF WEALTH
31 Edgar Sia $390 Million 37 Fast Food
32 Ramon Ang $380 Million 60 Diversified
33 Michael Romero $375 Million 41 Ports
34 Conception Family $320 Million - Food
35 Philip Ang $315 Million 73 Mining
36 Frederick Dy $310 Million 59 Banking
37 Luis Virata $300 Million 60 Mining
38 Alfredo Ramos & $260 Million 70 Diversified
Family
39 Wilfred Steven $255 Million 52 Milk
Uytensu,Jr. & Family
40 Tomas Alcantara $250 Million 68 Diversified
 Complete List: 50 Richest
RANK
Filipinos
NAME
in
NET WORTH
2014
AGE ORIGIN OF WEALTH
41 Jose Antonio $240 Million 67 Real Estate
42 Bienvenido $235 Million 93 Retailling
Tantoco,Sr. & Family
43 Jacinto Ng $230 Million - Diversified
44 Gilberto Duavit & $200 Million 79 Media
Family
45 Menardo Jimenez $195 Million 82 Media
46 Eric Recto $190 Million 51 Diversified
47 Walter Brown $183 Million 75 Mining
48 Felipe Gozon $182 Million 74 Media
49 P. J. Lhuillier $180 Million - Pawn Shops
50 Julliette Romualdez $170 Million - Banking