EVERY DAY HEROES
Duterte: The revenge of the Masa
by James “ Kojak ” Hughs

I want to preface this column by admitting, I have the highest regard and respect for Ambassador / Doctor Romero. He not only has two degrees from one of the most prestigious universities in England, but he also has a third degree from the University of Asia and the Pacific. His business experience spans a long list of some of the finest national and international companies in the world, plus he served proudly as our Ambassador to Italy. It is with some trepidation that I offer meager constructive criticism.

My hesitation is compounded by my awe of his writing skills, undoubtedly honed over the years of service to the nation. He not only is spot on in his analysis of the herculean task facing our new president but also correct in how it should be resolved. President Duerte would be smart to seek his counsel. Doctor Romero’s ability to wordsmith such succinct gems as “one liner solutions’’, “visionless boom and bust economy” and “ hybrid mongrel democracy” makes me green with envy.

Doctor Romero has written several books on economics, so it surprised me that he used the tired, outdated example of US president Franklin Delano Roosevelt’s “New Deal” as a potential solution to the malaise that economically cripples this beautiful nation.

While I was teaching at the University of Southern California the Department of Economics published a lengthy study that found FDR’s policies kept America in the “Great Depression” almost ten years longer than necessary. While high school economic teachers routinely claim President Roosevelt save the nation from the “Great Depression”, in reality it was World War II that saved the nation.

Keynesian economics postulates that demand drives supply. The greater the demand the harder companies will work trying to fill that demand resulting in economic growth. Unfortunately, the economic growth in a global economy is not confined to the nation that needs it. Instead of increasing a nation’s economic growth, it often diminishes it.

Recovery from the “Great Depression” was due largely to enforced “isolationism”. While demand in American rose, imports fell. America was unable to import from Europe or Asia and consequently had to supply the nations demands from its own resources. America’s recovery from the “Great Depression “ was more a function of the war than anything done by President Roosevelt.

This is obviously a VERY minor point in an otherwise very comprehensive and intelligent column. I will eagerly seek out and read with great pleasure Dr. Romero’s future columns.


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