Business & Economics Perspective Blogger

International State College of the Philippines Today is Flor Contempacion Day , and rallies are expected. However, whether it's Flor's death anniversary or not, rallies are expected for the wrongest of reasons. I would like to address this photo from the International State College of the Philippines' Facebook page. The demands here are rather clunky and stupid. We have the following demands that would naturally clash with each other, such as: No to the oil deregulation law while demanding lower oil prices. This is simply ignoring the basic fundamentals of economics, namely the law of supply and demand . They say that oil companies are greedy for gain. These rallyists probably don't really understand the difference between revenues and profits . Let's understand the Oil Deregulation Law  The Oil Deregulation Law, or the Republic Act No. 8479 , passed on February 10, 1998, under the late Fidel Valdez Ramos. Here's how the liberalization works: CHAPTER II  LIBERAL...

Updated: December 23, 2023 I'm amazed at how I'm surrounded by people overly resistant to change. I was reminded of a former house helper (who also loved the phrase "If it's bitter then just add sugar", read the related article here ), who was overly resistant to change. She would always get mad whenever the iron, the light outlet, etc. were changed to better ones. I'm afraid the same can be true about jeepney modernization. There are some people (and even "thought leaders") who are still saying, "No to jeepney modernization! Think of the drivers!" The same people may also be those who are still against accepting of FDIs because of dumb reasons like "But only the FDIs will get rich!" or "FDIs will invade us and destroy our sovereignty type of talk."  I'd admit that driving in the Philippines isn't exactly more fun. I remembered a couple of times I cursed because of a jeepney driver. I guess the vehicle gets the n...