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The best economic system for the Philippines is it's current system.
The contrasting economic systems either lets the government decide everything or private companies. It is obvious that letting the Philippine government complete control of everything would be stupid, since corruption will become impossible to stop. Allowing private companies to decide everything would also be unintelligible, since human rights violations would become even more rampant than it is now.
The Philippines current economic system is a mix of the two contrasting. The government decides alongside private companies. At first, one would assume that this would be bad, combining the unstoppable corruption with the rampant abuse of human rights. The thing is, though, the two parties, the government and the private companies, balance each other out. For example, if the government tries to squeeze a bribe out of a certain company through unsavory means, the company tries to get out of it through other unsavory means. When the company tries to abuse its employees or some other human rights violation, the government will then come down on it, asking for a bribe. Basically, both their greeds counteract the other.
That is why the best economic system is it's current system.
p.s.
this is all bs :D
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∙ 14y ago
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What economic system Philippines belong?
Mixed Economy
What type of economic system does the Philippines have?
mixed economic system
What is economic stability of the Philippines?
economic stability of the philippines
What is the economic system that promote economic equality?
Not everyone agrees about which economic system best promotes economic equality. Those who advocate for socialism often argue that it's the fairest economic system.
Is Philippines a socialist country?
Yes! they are capitalist country though, but socialist in hiding!
What economic system Philippines belong?
Mixed Economy
What type of economic system does the Philippines have?
mixed economic system
How the economic system of the Philippines developed?
The economic system of the Philippines is developed through the exportation of goods and the tourism that we had. Every region in the Philippines has it's own product like banana, in Davao City and etc.
What is the best mixed economic system is it liberal socialistic or democratic economic system?
democratic is the best ever
What is economic stability of the Philippines?
economic stability of the philippines
How did monetary system of the Philippines developed?
The economic system of the Philippines is developed through the exportation of goods and the tourism that we had. Every region in the Philippines has it's own product like banana, in Davao City and etc.
How did imperialism affect Philippines?
The US fought them in the Spanish American War.
What is the economic system that promote economic equality?
Not everyone agrees about which economic system best promotes economic equality. Those who advocate for socialism often argue that it's the fairest economic system.
Is Philippines a socialist country?
Yes! they are capitalist country though, but socialist in hiding!
What is the best economic system for consumers?
mixed
In his economic system Smith believed that the basic economic questions were answered by the?
market xtine In short, the economic activities in the Philippines are both free of intervention and with government regulations. It may be regared as mixed economy.
What type of economic system did Adam smith provide?
Adam Smith was well into his beliefs that a free economy was the best economic system.
