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Income inequality grew during the era of martial law, as the poorest 60 percent of the nation were able to contribute only 22.5 percent of the income in 1980, down from 25.0 percent in 1970. The richest 10 percent, meanwhile, took a larger share of the income at 41.7 percent in 1980, up from 37.1 percent in 1970.
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund .
The Labor policy in the Philippines is specified mainly by the country's Labor Code of the Philippines and through other labor laws. They cover 38 million Filipinos who belong to the labor force and to some extent, as well as overseas workers. They aim to address Filipino workers’ legal rights and their limitations with regard to the hiring ...
Economic history of the Philippines (1965–1986) Real GDP per capita development of the Philippines, 1965 to 1986. The 21-year period of Philippine economic history during Ferdinand Marcos’ regime – from his election in 1965 until he was ousted by the People Power Revolution in 1986 – was a period of significant economic lows. [ 1][ 2 ...
Bernardo Malvar Villegas (born March 12, 1939) is a Filipino economist and writer best known for being one of the framers of the 1987 Philippine Constitution, [1] [2] for authoring a number of widely used Philippine economics textbooks, [3] and for his role in the founding of two influential Philippine business organizations, the Center for Research and Communication [4] and the Makati ...
Critical industrial relations: employment is an unequal power relation between competing groups that is embedded in and inseparable from systemic inequalities throughout the socio-politico-economic system. These models are important because they help reveal why individuals hold differing perspectives on human resource management policies, labor ...
The Department of Labor and Employment ( Filipino: Kagawaran ng Paggawa at Empleo, [ 2] commonly abbreviated as DOLE) is one of the executive departments of the Philippine government mandated to formulate policies, implement programs and services, and serve as the policy-coordinating arm of the Executive Branch in the field of labor and ...
John Maynard Keynes, General Theory of Employment, Interest and Money, 1936; Description: In this book, Keynes put forward a theory based upon the notion of aggregate demand to explain variations in the overall level of economic activity, such as were observed in the Great Depression. The total income in a society is defined by the sum of ...