This chapter revisits critiques of the neoliberal model of economic development in light of the pandemic and proposes holistic social development as an alternative. The relevance of modernist and functionalist perspectives has been critically examined since the 2008 global crisis. Inequality amid sustained economic growth in the Philippines raises questions about development strategy. The massive expansion of State intervention and public provisioning during the pandemic furthers the necessity of interrogating new models of development. The paper argues that recovery from the pandemic and mitigation of inequality toward holistic social development rests on an extension of social protection, an enhanced unemployment insurance, provision of employment guarantees, promotion of social solidarity economy and a rights-based development strategy. The imposition of a wealth tax is proposed as a key mechanism to fund robust social development programs. Finally, the paper recommends how this alternative model of development can be concretized in an electoral agenda in view of the 2022 national polls in the Philippines.

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Revisiting Models of Economic Development in the Philippines in Light of the Pandemic

  • Benjamin Velasco

摘要

This chapter revisits critiques of the neoliberal model of economic development in light of the pandemic and proposes holistic social development as an alternative. The relevance of modernist and functionalist perspectives has been critically examined since the 2008 global crisis. Inequality amid sustained economic growth in the Philippines raises questions about development strategy. The massive expansion of State intervention and public provisioning during the pandemic furthers the necessity of interrogating new models of development. The paper argues that recovery from the pandemic and mitigation of inequality toward holistic social development rests on an extension of social protection, an enhanced unemployment insurance, provision of employment guarantees, promotion of social solidarity economy and a rights-based development strategy. The imposition of a wealth tax is proposed as a key mechanism to fund robust social development programs. Finally, the paper recommends how this alternative model of development can be concretized in an electoral agenda in view of the 2022 national polls in the Philippines.