The impact of surging prices in the Philippine market and transportation industry cannot be overstressed. Increases in the commodity base prices, accompanied by casual increases in transportation fare matrices in both public and private vehicles, are really devastating, especially to a fresh graduate like me who struggles his way in finding a good-paying and stable job and, who incurs a lot of expenditures in the production and reproduction of his curriculum vitae, in producing clearances and work requirements, and in riding jeepneys, buses or taxis going to prospect company offices.
Naturally, these economic conditions produce depression to the Filipino people, especially to the social class near the poverty line. Generally, it defines a much more emphasized linear gap between the rich (since the rich can still cope with the demand of the increases) and the poor (because they would have to consider stiff budgetary approaches in order to cope up with the demands of living standards). Being in the middle class I have difficulty coping up with the increases. Way back in high school, I could recall having a weekly allowance of P50 pesos, paying only two pesos and fifty cents (P2.50) in jeepneys (minimum fare) and still have ten pesos savings (P10). My mom and I would also visit the grocery store with two thousand pesos (P2000) which was enough to provide our two-week basic needs. Although skyrocketing increases on the prices of goods and gasoline in the past years had been very troubling to me and to my family, I believe that this is imperative in a developing economy that does not have any alternative source of fuel energy and that is deeply monopolized by foreign investors. In short, Philippines represents a weak economy that has no power to move the cycle of economic parameters of supply and demand in the international market. Given this condition, its citizens have to bear the scorching effects of inflation, peso devaluation or market monopoly of fuel companies. Although the deregulation law in fuel prices has already been an active legislation, the control of fuel prices remains dependent on cartel in lieu of the board of directors of the Organization of Petroleum Exporting Countries (OPEC).
Hence, it is important that citizens become more creative and more prudent in meeting up the high demand of living standards. In my case, I accept as many part-time works as possible and do not commit to an eight-hour office job which offers a ‘just-above average pay’ but with tax differential cuts. As of now I teach Korean students during my free hours, write book manuals for students (since it generates personal income along with the publisher), and accept writing jobs. These are excellent sources of income since they are not taxable. With this resourcefulness, not only do I meet my basic needs but also give out some of my earnings to my mother.
I believe that with inventiveness comes the insight to propel an individual response to the challenge of this country’s economic turmoil. When one becomes explicitly comprehensive of the nature of the problem of needs, he or she also becomes simultaneously responsive in providing resolutions. A biased difficulty in meeting up the standards of living becomes significant because people put too much focus on issues and controversies regarding the existence of these economic problems but fail to respond with equivalence in combating them. Leftists and extremists roam everywhere and plague the seats of legislators and public offices. They assume for leverages instead of hard work. They promote the already clichéd vox populi instead of becoming distinctly involved in promoting livelihood and resourcefulness schemes as part of austerity measures.
The more a society is confront of economic issues, the more it should become more resilient, and that resiliency must come firsthand from the citizens who are the direct bearers of discomforts, and crucial increases in the prices of basic commodities and transportation fares. As Adam Smith says, there is an Invisible Hand in all economies which moves in order to provide the common good to all people. Such hidden hand, although automatic like a machine, is still dependent on the atmosphere of the economy. When the economy is influenced by the motivational rectitude of people who want to secure a prosperous economy, then I believe that the hidden hand will work best; otherwise, it struggles on its own virtue to achieve the results of the interests of people in a certain society. Thus, it is essential that we underscore this point in order to help ourselves in dealing with harsh economic realities.
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