Back to basics: What it really takes to achieve economic prosperity

Whether it is an Aquino, a Robredo, a Duterte, or a Marcos who rules the Philippines, it comes down to whether or not ordinary Filipinos are up to the challenge.

One of the key aspects of the Constitutional Reform agenda revolves around the proposal to open the Philippines to full foreign ownership of business assets and private property. It is a worthwhile option to explore as it has been known for quite some time how inept Filipinos are at creating capital indigenously and at keeping a productive chunk of it within its borders. Nonetheless, there is still a need to remain vigilant as to the nature of the capital we allow Filipinos unfettered access to, specifically: We want capital coming in that expands capacity for sustained gains in productivity and equity creation.