The Irony of Having a Prestigious Educational Background While Supporting Stupid Economic Policies

Psychology Spot

I remembered my grades were bad back in late elementary to high school. I almost failed fourth year high school back in K+10. I wanted to take Bachelor of Science in Information Technology (BSIT) not because I really wanted to but only to impress some people I dislike. I could say the same why I kept whining that I'll never be able to enter Ateneo De Manila University (ADMU). I remembered how getting an ADMU diploma was everything. I ended up taking business administration instead after I finished my two years Associate in Computer Science (ACS) course. I was already ready for the "dreadful truth" that I wouldn't be accepted into the BSIT course. After all, I'm not technically inclined. Though, there was a time I still felt, "Too bad I'm not taking BSIT!" Well, a lot of people exited the course for commerce courses! I enrolled in graduate school last 2011 (Masters in Business Administration). Yet, I was warned that having an MBA doesn't mean I'm invincible. I tend to feel an MBA makes me invincible. Sadly not and that's where I can become the educated fool--a person who knows so much but fails in real life. Even some people who fell into scams last 2012 (including myself) were MBA students!

Right now, I tend to appeal to what I'd call more intelligent authority to defend my statements. Sadly, some of the people I've met on Facebook have better backgrounds than I do while supporting stupid economic policies. Some of them are graduates from prestigious schools such as the University of the Philippines (UP), ADMU, De La Salle University (DLSU), or even had a degree abroad such as the London School of Economics, University of Pennsylvania, Harvard University, or any school that's difficult to enter. Some have hard to achieve degrees such as an engineering degree or any math-intensive courses like BSIT. Just because a certain someone has a prestigious educational background doesn't mean that they can't do foolish things.

It reminds me when I heard a certain someone say, "Why will you let foreign investors invest here? Only they will get rich!" The statement came from a guy who was an engineering graduate from DLSU. I even hear such statements from people like Teodoro A. Casino (who has his background from DLSU and UP-Los Banos) and Neri J. Colmenares (who graduated economics from San Beda College and had a law degree from UP-Diliman). We also have Kabataan Partylist's Rep. Raoul Danniel A. Manuel who is a cum laude in BS Applied Mathematics at the UP-Diliman. Rep. Sarah Jane I. Elago who graduated cum laude from UP-Diliman. Others may have also had their degrees from ADMU. Yet, they ended up supporting stupid economic policies in spite of having a good education background!

What stupid economic policies am I talking about? There's so many to mention but I'd like to highlight the following for this post:

The Filipino First Policy such as the 60-40 arrangement and the negative list.
The government should subsdize basic needs such as telecommunications, water, fuel, and elecricity.
Penalizing the big local businesses (oligarchy) every time they don't meet service quality instead of introducing more competition.
Suspending rent and mortages then having free mass testing, massive sanitation drives, setting up temporary hospitals and the like. In short, setting up more spending while having lesser money.
Asking gasoline providers to sell at a loss even if the world prices of gasoline are rather sky high. The Ukraine vs. Russia incident is just one example of why gasoline prices are skyrocketing.
Supporting the move to give PHP 10,000.00 worth of handouts per month for less fortunate families while supporting economic protectionism.
Trying to do "everything on our own" even when foreign businesses can provide new skills and technology to help local businesses grow.

I'm really amazed at all the comments I've been reading on Facebook. I can even go ahead and provide data but they'll just ignore it. Just reading someone saying that the Ukraine war is "just an excuse" to raise gasoline prices is stupid. If there's a war and there's a problem with supply--doesn't the law of supply and demand, well demand, that if supply is low and demand is high then prices must go higher? It's really basic economics. If anything is to be said to these people, "It's the economics student!" and "Just because you're highly educated doesn't mean you're never wrong!"

Venezuela as a Cautionary Tale on #SahodItaasPresyoIbaba, Nationalistic Pride, Welfare State Economics

The Sunday Guardian Years ago, I wrote about Venezuela's pride and protectionism , under a more "formal" style of writing compared to my latest posts. I decided to use an even "less formal" and "less academic" tone since I'm not writing a term paper. Instead, it's like how a professor and a student discuss the thesis using first person over third person, using contractions, etc., while the thesis doesn't use such tones. Back on track, I thought about the arrest of Venezuelan President Maduro can spark debate. Was it a violation of sovereignty? I'm no expert on international law. However, Venezuelans can be seen celebrating Maduro's arrest. Right now, I'm using Gemini AI and Google search to help me find some sources for this blog. It's because I don't want my blog to become another gossip central, but a place to discuss facts with my own personal opinions (making sure they don't derail the facts). I used Venezuela ...

The Philippines will NEVER Get Richer by Blaming Its Richer Asian Neighbors

Gemini AI Updated: September 27, 2025 It would be nice to talk about the typical blame game in the Philippines. I could remember that, as a child and a teenager, I had this habit of blaming people I disliked for my failing an exam. The reasons are mostly imagined. What I remembered in my later college years was when I met a couple of super irresponsible students. They had this attitude to say something like, "My parents don't care if it'll take me 20 years to finish my bachelor's degree." Some people even say something like, "It's the fault of the rich that we are poor." It was a backfire when I told such people, "Isn't it any wonder why your finances are down? It's because your parents don't even value the money when they don't care if it'll take up to 20 years to finish college!" Understanding the blame game and why it feels so good Psychology Today presents this on why some people will always blame others . These fin...

Davide vs. Mahathir: Which Lolo Should Filipinos Take Economic Advice From?

The real issue isn't that something is old or new. Instead, if something old or new still works, or doesn't work! Many modern laws are built on some ancient principles, while adjusting to the current times! The Constitution of Japan is actually older than the 1987 Constitution of the Philippines. However, it's more effective for the reasons that (1) their constitution is silent when it comes to regulating economic activities (ex., protectionist measures), and (2) it's a parliamentary system. Honestly, it's a pretty straightforward constitution compared to ours! As Mahatir Mohamad turned 100 today, I would like to raise up Atty. Hilario G. Davide Jr. once again. The problem isn't Davide's age but his unwillingness to embrace change when needed (read here ). This time, it's time to bring up a contrast between wise old people and unwise old people. A young person can be right where the old person is wrong. A young person can be wiser because he or she lea...

How Many MORE Unmitigated Typhoon Disasters Before Filipinos Realize That the Filipino First Policy is FAILING Them?!

GMA Network I remember surviving through Typhoon Odette last 2022. Tino happened on November 6, 2025, which also reminds me that Yolanda's anniversary came two days later . Yolanda was even worse than Odette! Thankfully, Cebu City's impact wasn't as bad, and power didn't take too long to return, unlike Yolanda. However, seeing news reports such as an investigation done against Slater Young's project in Monterazzas de Cebu should highlight a bigger problem. Looking at the photos of floods on Facebook makes me think, "How many more unmitigated typhoon disasters until Filipinos realize that the Filipino First Policy is failing them and that the 1987 Constitution of the Philippines badly needs updates?" For die-hard defenders like Atty. Hilario G. Davide Jr. (who will turn 90 this December 20) or Atty. Christian Monsod (who's 89 this year), they're prone to saying that it's just a matter of implementation . However, whether we want to admit it...

Would You Rather Die of Thirst and/or Heatstroke This Summer Than Accept Quality Water and Electricity Services from MNCs?

Looking at the IBON Foundation's page can be laughable . One may notice Atty. Neri Colmenares, someone who fortunately lost the senatorial race twice . I remember arguing about people who'd believe in the lies that Colmenares would propagate about FDIs. There's the call to stop water privatization (the call for the nationalization of the water industry) and the constant opposition to allowing foreigners to own 100%. Do they even get that 100% FDI ownership is all about share ownership and not land ownership ? As the summer heat intensifies due to the El Niño, I decided to write this entry. A good question to ask now is, "Would you rather die of thirst or a heatstroke than accept quality water and electricity services from MNCs?" What organizations like the IBON Foundation and Migrante International insist is on national industrialization over the acceptance of FDIs. The question is how do they expect to industrialize the nation based on doing everything on their ...

Business & Economics Perspective Blogger

Search This Blog