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The Philippine Economy Is Cooling. But Who Is Feeling the Cold?

There is a dangerous habit in Philippine economic reporting: We talk about GDP as though it were a thermometer attached to the entire country. GDP goes up, therefore Filipinos are doing better. GDP goes down, therefore we have a problem. But GDP is not what a mother sees when she opens her wallet at the […]

There is a dangerous habit in Philippine economic reporting: We talk about GDP as though it were a thermometer attached to the entire country. GDP goes up, therefore Filipinos are doing better. GDP goes down, therefore we have a problem. But GDP is not what a mother sees when she opens her wallet at the […]
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