IBON launches alternative to failed govt econ agenda

October 10, 2019

by IBON Media

Research group IBON is launching its campaign on People Economics to promote much-needed policy reforms that would really benefit the majority of Filipinos and engender genuine national development.

Today, IBON holds the forum “People Economics: May Magagawa!” at the College of Science Admin Auditorium, UP Diliman to discuss why there is a need for and what the principles and policy outlines are of People Economics.

After four decades of neoliberal globalization and its market-driven policies, the group said that the country remains underdeveloped. Many Filipinos are struggling with worsening poverty and jobs crisis, while only a wealthy few are benefiting. The global economic slowdown is not letting up, and in response several countries, especially the big capitalist powers, are becoming increasingly protectionist.

IBON said that People Economics is an alternative to government’s failed neoliberalism. This draws from the policies and demands of the people’s movement, as well as IBON’s more than 41 years of experience in advocating for social and economic reforms. The group said that it envisions a Philippines that can be transformed into a modern industrialized nation that is more equal, humane, and ecologically sustainable. It lays the foundation for a future where the Filipino people continuously change society for the better.

People economics is comprised of six pillars: Develop the countryside; Build Filipino industries; Protect the environment; Uphold people’s rights and welfare; Finance development; and Strive for sovereignty and independence.

IBON said that People Economics can be further articulated and enriched as an alternative to neoliberalism. The contributions of the progressive movement and other advocates for genuine change is needed to come up with the most concrete and comprehensive solutions to the country’s social and economic problems, the group said. ###