Oct 29, 2007
Middle Class In RP Shrinking
It’s one bad news after another?
It only bolstered claim by politicians that though the economy is growing, it does not benefit everyone. On Sunday (10/28/07), I posted my musings to a news article printed in the inquirer about the worsening unequal sharing of wealth in the Philippines. And today, the Business Mirror printed a front page story about the “shrinking middle class” in RP as cause for alarm. These news support earlier surveys of the growing hunger and poverty in the Philippines.
Something is wrong somewhere, if the economy is growing, the Philippine peso is strong and the stock market is bullish, then who is benefiting from all of these?
I think it’s about time that entrepreneurs, private and gov’t. executives, and HR practitioners should team up on how to add value to lives of ordinary Filipinos who comprises the chunk of the population.
[...] Update 10/29/07: Middle Class In RP, Shrinking Too [...]
I dunno, I still think that the only way here is up. Am I being too optimistic?
it’s really a question though…and it’s bugging me.i could just imagine what could happen in the future generations…i guess these group of people would be a great help to every middle class filipinos if they join forces…including us.
[...] indicators will point to an improved economy, but in contrast, studies also show that RP’s middle class is shrinking and the unequal distribution of wealth has worsened. Who is benefiting, then, of the improved [...]