THE ECONOMIC PROGRAMS OF PHILIPPINE THIRD REPUBLIC (1946 – 1972)
Keywords:
Economy, Third Republic, Philippine Economy, Economic DevelopmentAbstract
This paper studies the different economic programs that the Presidents of the Philippines executed during the period of Third Philippine Republic (1946 - 1972). As the country regained its independence from the United States, and the end of the Second World War, the country was facing the difficult challenges of reconstructing the nation, its society, politics and more importantly the economy. Using John Stuart Mills’ theory on The Principles of Political Economy, this study reveals the necessary functions of the government and its intervention to achieve stability of the national economy. This qualitative study reveals its findings using historiographical interpretation, particularly the economic programs implemented from the time of Presidents Manuel Roxas to Ferdinand Marcos (covering his two terms of office), all of which these presidents have envisioned as instrumental in salvaging the Philippine economy from the desolation of the Second World War.
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