The quest for economic freedom

By Randell Tiongson on July 1st, 2011

In my many talks & seminars, I often remind the participants that the biggest problem of the nation is poverty. While my nationalistic ego is bruised every time I talk about our national quality of life, I need to constantly remind as many as I can that this situation of ours is something we should not accept — it should be something we must rally against.

I believe that education is key in solving most of our problems … the more we educate, the better our chance to improve our lives. Of course, when I say education, it goes beyond schools and books — it’s about education in every aspect of our lives.

Another consideration we should also look at is our economic freedom. I subscribe to the belief that if there is more economic freedom, there will be greater chances for better lives. Does economic freedom actually result to a better life? Watch the video below and you be the judge.

Thanks Dennis Sy for recommending this video to me.

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6 thoughts on “The quest for economic freedom”

  • I totally agree, Sir Randell. Quality education in all aspect of our life is the solution plus the discipline of execution from what we have learned. There’s really a big difference between the economic standard of living vs quality of life, but we should choose the latter.

    Choose for the Quality,
    Red @ Virtual Business Philippines

  • Economic freedom together with integrity. Economic freedom placing national interests as a priority. Economic freedom with the attitude of good stewardship. Thanks Randell for your dedication and perseverance. May you educate us more as you fulfill God’s plan for you.

  • I still believe that the future of the country will be great… we just need to get our acts together. As one good pastor said (Luther Mancao), we live by promise and not by situation… Jeremiah 29:11.

    Thanks for the kind words Red & Laurence. We are all in this together!

  • It took me a while before I found what I was looking for in my pile of books to comment on your blog. So, here it is…

    “If somebody somewhere takes out a mortgage which he will repay in three decades’ time, to invest in a business that invents a gadget that saves his customers time, then that money, brought forward from the future, will enrich both him and those customer to the point where the loan can be repaid to posterity. That is growth. If, on the other hand, somebody takes out a loan just to support his luxury lifestyle, or to speculate on asset markets by buying a second home, then posterity will be the loser. That is what, it is now clear, far too many people and businesses did in the 2000s – they borrowed more from posterity than their innovation rate would support. They misallocated the resources to unproductive ends. Most past bursts of human prosperity have come to naught because they allocated too little money to innovation and too much to asset price inflation or to war, corruption, luxury and theft.”
    –Excerpt from The Rational Optimist by Matt Ridley

    So long as we teach and educate everyone, especially our young, to allocate sufficient capital to innovation, and not just to luxuries, then no credit crunch can prevent the upward march of human living standards. I mean, the four most basic human needs – food, clothing, fuel and shelter – have grown cheaper in the last two centuries, all because of the invention of better means and ways to acquire, create and deliver them, or so simply said – innovation. And so, this creates economic freedom for the human race đŸ™‚

  • that video was really something,,, in a span of under 3 mins such a huge concept was depicted so eloquently,,

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The quest for economic freedom