College of Business Administration and Accountancy
Colegio de San Juan de Letran
MENORO, CAMILLE JOY T.
OCSAN, ROSE ANN R.
While the Philippine economy grew impressively during the middle and the late 1970’s, family incomes fell. By 1980, the real value of salaried employees’ earnings was only 93 percent of their 1972 value. In the same year minimum wage workers were only earning the equivalent of 87 percent of their 1972 real incomes. The number of people who were not fully employed tripled from 1.6 million in 1978 to 5.6 million in 1983. The real incomes did not only declined, wealth redistribution worsened. In 1971, according to census figures, the poorest 60 percent of the population received 25 percent of the nation’s income. By 1979,that figure went down to 22.5 percent. When Marcos regime was finally dismantled in 1986, nearly two-thirds of the population had fallen below the poverty line. The middle class, although growing, was economically vulnerable. A million Filipino workers, unable to find suitably rewarding jobs at home, decided to work abroad. Many went to the Middle East oil-producing countries that were converting their incomes from petroleum sales into infrastructure investments at home. Economists reviewing the period generally agree that socioeconomic development suffered under authoritarian rule because of excessive government intervention in the economy, the maintenance of numerous monopolies, and inferior fiscal and monetary policies. These led to high inflation and interest rates. All these condition were not good for business and discourages job creation. The problem was aggravated by economic policies that were bent to favor only a few and by widespread corruption. Throughout the authoritarian period, interest and inflation rates were kept high by a government that spent more than it earned, and then borrowed heavily from domestic and foreign capital sources to finance the deficits. What added to the problem was the government, to remain popular, decided not to increase taxes while yielding to expectations of state patronage in every form. This was a dangerous, highly inflationary combination. The combination also produced a very low savings rate, a factor that would hinder investments growth in long term.
Statement of the problem
This study aims to provide knowledge and information about the reader’s belief on the controversies behind nuclear power plant in Bataan. Most of all, this study shall provide answer on the following statement: 1. Cost with charges of corruption and favoritism towards crony Hermino Disini.
2. The site of the plant is nearby an earthquake fault line.
3. Conversion of Nuclear Power Plant into combined cycle plant.
Significance of the Study
This study will be a significant endeavor to the Filipino people to be aware of what happen in nuclear power plant in Bataan Peninsula. This study will also be beneficial to the people who don’t know the nuclear power plant, when Ferdinand Marcos brought it but never been use. By understanding the reasons why it happen, these study be assured of a competitive advantage. And importantly, this research will educate the Filipino’s to be more censorious in criticizing the Marcos administration.
In the previews chapter the researchers had stated their study and the reason why did the researchers choose this topic. The researchers also stated how would their study flow and would be results and importance.
In this chapter the researcher had stated every individual has its own belief in believing the controversies behind nuclear power plant, it stated the studies and theories on the local and foreign research that would help the researchers study.
During the dictatorship, people joked about the ‘Marcos’s’ “edifice...