Wealth of nation.


I want to talk about the wealth of the nation (yaman ng bansa), to begin with, a question: who owns the wealth of the nation? Few people know that the wealth of the nation is owned by the people of the nation. In the case of the Philippines, we Filipinos owned the wealth of the Philippines. But in reality, few only benefits from wealth generated by the natural resources of the country, if the government of the past has distributed the wealth carefully, Philippines might have the mega infrastructures of the developed countries, low cost of energy, state of the art public transportation; the Philippines might have the free health care system and pensions of the wealthy countries. 

The challenge of today is for us Filipinos to realize that our country is full of resources and each of us has the right for the wealth of our country. Whatever your status in life - poor, middle class, upper class, the wealth of the nation should be for the benefit of all and not of the few. Some people are still blinded by the belief that if they amass all the wealth, if they keep it to themselves, then they will be happy, but I will argue that it will be temporary, as Adam Smith said, no society will be truly happy with a portion of the society down to poverty. At some point, the people down the poverty, who did not benefit from the wealth will negatively affect the society. 

We have to rethink how to use the national wealth for the benefit of the citizens, if we could do this, we will be able to create an abundant nation where each and every citizen has equal opportunity to live a decent life. The past has failed to distribute the wealth to each and every individual of this country, but we can’t blame the past, today is the day to begin, put self-interest behind, and together let us build a country where everyone is wealthy.