I provide a formal explanation of the relationship between the virtues of prudence, justice, and benevolence described by Adam Smith in the Theory of moral sentiments and connect these with the themes Smith subsequently discusses in the Wealth of nations. I contend that the other-regarding...

Part of a proposed anthology, this article provides a concise review of the economic performance during the period of the Marcos dictatorship (1972-1985) from a comparative historical perspective. We examine the external events and internal policy responses that made possible the high growth in...

The five decades that have passed since Marcos declared martial law is an opportunity for stocktaking relative to the present. This piece is a summary comparison of the character of the economy that existed under the Marcos regime and the current structure and problems experienced by the...

This paper provides a review of the empirical evidence cited in the current public discussions on removing the remaining constitutional restrictions on foreign-equity ownership in certain economic sectors. A fuller appreciation of the given evidence shows that lifting equity restrictions is not...

The administration of President Ferdinand Marcos Jr. is pushing for the creation of the Maharlika Investment Fund (MIF). Originally proposed as a sovereign wealth fund, the MIF later on morphed into what can be called a sovereign investment fund (SIF): a state-owned investment fund that aims to...

We are pleased to note that the discussion paper we wrote ("How to change a constitution by handwaving") has attracted some interest from the public and observers of economic policy. Among the more thoughtful responses the paper has received is that from the Foundation for Economic Freedom...

The effect of the performance of the judicial system has been thrown into the limelight as the business sector has in various surveys pointed to its performance as being one of the main obstacles and disincentives to doing business in the Philippines. The channels through which judicial...

This article introduces the moral philosophy underlying Smith's contributions to economics and emphasises the close connection between Smith's two principal works, the Theory of moral sentiments and the Wealth of nations.

Following an earlier paper titled 'Population and Poverty: The Real Score' (UPSE Discussion Paper 0415, December 2004), the present paper was first issued in August 2008 as a contribution to the public debate on the population issue that never seemed to die in this country. The debate heated up...