The Group of 20, led by US President Barack Obama and British Prime Minister Gordon Brown effectively declared the futility of Adam Smith's treatise on wealth of nations as it announced a trillion dollar program to repair the global financial system.
Gathered in a huff in London, the G20 leaders (comprised of the world's top 20 economies) recently issued a joint declaration that contained a common response to the world crisis that includes plans to strengthen financial supervision and regulation and funding for bailout programs.
Rebuke on Adam Smith's Wealth of Nations. In a communique, the G20 leaders promised new rules that will regulate financial institutions and risky instruments that brought the world's financial system to its knees. A clear rebuke on economist Adam Smith's treatise that the invisible hand would provide the self-correcting mechanism for free markets, the G20 plans impose unprecedented government supervision while promising a sustained market intervention to restore economic growth.
Inequities in access to quality health care, a major threat to the poor
Mass migration of Filipino medical personnel (particularly by nurses and doctors), decline in health care spending, and fragmentation of the country’s health care system due to devolution have led to an alarming deterioration of the quality of health care services in the country. Unless effective policy measures are adopted immediately, the Philippine health care system could further deteriorate rapidly and see more Filipinos left out of the system untreated.
Should government give away free medicines?
Based on a study on affordability of drugs, Filipino wage earners must forego up to a day's worth of income to access drugs. What are the options for policy makers to address this issue?