ACTIVITY 3: Discussion

 





Philippine socialism establish  a society in which the people, rather than a few property owners, own and manage the country's affairs. Production would be based on necessity rather than market demand in such a society. Only via sensible social planning can this be realized.

There’s an absence of capitalism in the Philippines. Instead, what we have here is rentier capitalism and economic statism. Rentier capitalism (or rent seeking capitalism) is a system wherein monopoly control leads to extraordinary or “super-profits” for a few without the system delivering any increased value or contribution to society. capitalism is what made the Philippines a leading educational force in Southeast Asia, but the government is killing it with statist solutions. The private for-profit educational system in the tertiary level is what has attracted students from as far as Iran and Africa to come here, and not just for the English courses.

the capitalism economic system would work in our country because it allows everyone to control their own profitability. it also allows to people to govern themselves. there are a lot of benefits or advantages of having a capitalism economic system in our country.


Socialism and capitalism are the two main economic systems used in our country today. The main difference between capitalism and socialism is the extent to which the government controls the economy.


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