Constructing a list may not cover the whole story or be even considered as a full-proof evidence whether a political crisis may occur but gathering characteristics from the French Revolution, the Nigerian issues, and from the state of Burundi of the causes of each political crisis that lead to devastating revolutions and population losses may give the reader future clues to determine whether it is time to get out in a country heading for war and soon tunneling down to its economic destruction.
All of these are excerpts from The Next Convergence: The Future of Economic Growth in a Multispeed World by Michael Spence, Winner of Nobel Prize in Economic Sciences
An economy is a fragile thing. We know the metaphor of an economy being like a giant island made up of Jenga blocks or formed like a long structures of domino encircling each other. We can visualize tragedies of our human lives but death always seems to us like a surprising event. This goes the same way in running an economy, a country. A collapse of an economy seems to be too hard to grasp but I kid you not. A healthy exercise for risk management it is to think like a perpetrator to defeat the perpetrator. Be evil to see evil if one might may. The only way to prevent problems and to prepare for any unexpected circumstances if to see the possibility of it happening in the future.
Philippines is now classified as a newly industrialized economy. This means a country is moving away from being a resource-driven economy, forgoing using natural resources for means of economic production, to an export-driven economy. Abandoning the natural resources as a major potential tool for building a robust economic foundation has its cost. (more…)