Attempting to Measure Welfare in the Philippines

Due to poverty, crime, corruption, and the tragedy of society and these trends, the Philippines can not rise here and there, but the government and the people take radical action. "There is no unemployment or welfare system." There is no social welfare system in the Philippines compared to the wealthy people (even if you compare long-term prosperous trips).

Welfare economics is a normative field of economics that simultaneously determines the allocation efficiency and related income distribution in the economy using microeconomic methods. We will try to measure social welfare by examining the economic activities of individuals that make up society. Macroeconomics considers the overall economy as "top-down" explaining a broad aggregate and its interaction, a general equilibrium theory using a simplified form. These sums include a subset of national income and output, unemployment rate and inflation rate, total consumption and investment expenditure and their elements. I am also studying the impact of monetary policy and fiscal policy.

Researchers and policy makers measure profit in various ways. This entry will focus on the profit measured by "monetizing" consumption and income according to the World Bank approach. However, as we have always emphasized, this is only one of the many aspects we have to consider when we discuss poverty. In other articles of Our Data World, the evidence we discuss can track the progress in other aspects of welfare that is not captured by standard economic indicators. This broad outlook on global development is at the heart of our publications.

Poverty is a concept essentially related to welfare - people can measure profit in various ways. In this article we focus primarily on poverty, "monetizing" consumption and income, and following the World Bank approach. But before presenting the evidence, the following introductory briefly outlines the relevance of this approach. According to available long-term evidence, in the past, only a few elite who had not been told "extremely poor" today enjoyed living conditions. However, along with the beginning of industrialization and productivity improvement, the proportion of the population in extreme poverty began to decline. As a result, the proportion of people with extreme poverty has declined over the past two centuries. This is definitely one of the most remarkable achievements of mankind.