
Originally Posted by
HenryLiwanag
Hi Ms. foolonthehill- here is my take
I agree with you - purchasing power[PP] is key but it is not in anyway be the key in solving poverty in our country. It is part of the objective but it not part of the machanisms to mimimize poverty. It is not a tool but product of a designed mechanism to solve poverty.
Definition:
1. ability to spend: the ability to make purchases according to income and savings
2. value of currency: the value of a currency measured in terms of the goods and services it can buy
reference:encarta
You may argue that let's give higher wages then to increase income. Or in another manner, let's print more money ang give it to the poor "remember Eddie Gil" who promised to give 1M for each pinoy. Can he do that? if given the FREEDOM, yes he can. But what happens then, you need to bring a bag of money to buy a kilo of fish [inflation] because the balance between supply and demand was radically tilted.
Going back to the topic - I believe one can uplift standard of living through better education and working well. Starting things right matod pa. Understanding where you are and knowing what to do with your situation is key before you can even think about purchasing power. Without education or sound knowledge, often, it is hard for one to analyze what is causing his/her poverty. You cannot give something you do not have but you can work on having something you do not have.