Debunking the Marcos Golden Years, straightening facts

ABS-CBN Online’s original article featured an interview with UP School of Economics Professor Emmanuel De Dios.

Martial law under former President Ferdinand Marcos continues to stir spirited debates, 45 years since it was declared, as his heirs reassert national influence and human rights victims seek justice.

During the late strongman’s 100th birth anniversary last Sept. 11, his son, former Sen. Ferdinand “Bongbong” Marcos Jr. said their family’s history was “still being written.”

With 6 in every 10 Filipinos born after the Marcoses were ousted by a People Power uprising in 1986, their supporters insist they brought the economy to its golden years with growth reaching record highs and the peso almost at par with the dollar.

But for those who lived through the regime, like UP School of Economics Professor Emmanuel de Dios, such a view is distorted.

The so-called good years were but a “flash in the pan” until the economy collapsed in the early 1980s

“That’s why you cannot judge the Marcos regime only on the good side. You have to take the entire period,” De Dios said in an interview with the ABS-CBN Investigative and Research Group.

“You did experience high growth in the early years, but you also experienced the worst recession in the latter years.”

The ABS-CBN Investigative and Research Group looked at key economic indicators during the Marcos years and compared them to the terms of other Philippines presidents, as well as other economies in the region.

Read it in full here.

Recently, Professor Emmanuel De Dios had a presentation, a critique, of President Duterte’s economic policy. Delivered last July 6, 2018, the presentation was titled: The insulted economy: Economic and business policy reforms under the Duterte administration.

Watch Professor De Dios’ discussion below. Video from Dana Batnag’s Facebook.

You can download your copy here: Insulted Economy by Emmanuel De Dios