Activity 8: (100 points)

Name: Zera Jean I. Tinoy Date: May 5, 2022

Year/Block: BSOA - 2C Score: _________

Instruction: Answer all the following questions below.

Note: Write your answers in one whole sheet of paper or bond paper.

Process Questions
1. What are the effects of the information revolution in today’s global market?
- National markets are being transformed into a single global market by the new
information revolution. Governments' ability to cater to particular interests by
manipulating the money supply, economic transactions, and even the
knowledge needed for entrepreneurship and economic processes has
substantially diminished. The information revolution ushered in the internet
era, in which optical communication networks are critical for transporting huge
volumes of data. During the last decade, the world has seen remarkable
network growth, and more is on the way. Because of technological
advancements, information may now be provided in real-time, eliminating
delays in global distribution. People all throughout the world may quickly
access this information as events unfold around them, allowing them to adapt
in a variety of ways. The information revolution has been accused of
exacerbating social inequalities such as racial, class, and gender disparities
as well as creating a new digital divide in which those with the skills and
opportunities to effectively use information technology reap the benefits while
others are left behind. Growing information technology has had a tremendous
impact on the global economy. Technology has allowed production rates to be
unaffected by distances between mountains and oceans. This innovation has
simplified the process of shipping money and goods. Information that was
once only available to kings and nobles is now freely available to the general
population, whether they use it or not. Because the audience will verify the
knowledge, rhetoric, or propaganda for themselves, brainwashing by
information is less effective. Third-world impoverished communities are
making technological advances that are resulting in a new wave of industrial,
technological, and informational revolutions. People who might never have
met otherwise are connecting on a worldwide scale. This has resulted in the
emergence of new industries and markets that would not have existed
otherwise.
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2. What are the effects of the multinational corporations in the Philippine economy?
- Businesses with offices in the Philippines may have a significant competitive
edge over those without. The Philippine government's various tax breaks,
rewards, and countless other benefits labor-wise We were able to showcase
 our outstanding abilities. Many Filipinos are internationally acknowledged
leaders in various industries. I would assume that the wage structure for
employees would be market-based. Perhaps they are willing to invest in
extraordinary talent, as global corporations have done. specialized abilities
Whereas a local corporation might rely on generalists to optimize talent,
multinationals' position definitions would necessitate the acquisition of
specialized expertise. market-wise More possibilities for consumers. ability to
invest in a market's development through advertising and consumer
promotions. As a result, local businesses respond with their best efforts.
3. Analyze socialism and capitalism in relation with the Philippine society. Which of
these economic systems would work in our country?
- The Philippines has a mixed economic system that includes a variety of
private freedom, combined with centralized economic planning and
government regulation. The Philippines is a member of the Asia-Pacific
Economic Cooperation (APEC) and the Association of Southeast Asian
Nations (ASEAN). But if I were to pick which society in the Philippines will be
is a combination of both. Pure, unrestrained capitalism is equally as
dangerous as socialism, especially if a socialist revolution, like the NPA, is
waging, and generates societal instability, resulting in capitalist shaming,
beating, and execution, as happened in Maoist China. I don't want it because
dictatorship is never an option for me because it will result in the deaths of
many innocent people. Without democratic checks and balances, socialism, in
my opinion, is just as likely to culminate in despotism. However, some
characteristics of both socialism and capitalism should not be overlooked. For
one thing, socialism is more humane than capitalism because the people's
interests will always take precedence over the bourgeoisie's. It makes no
attempt to profit from human sorrow and anguish. You won't find socialists
slapping financially ruinous medical fees on hospital patients or denying them
access to affordable (and even subsidized) education. Basic needs are not
turned into profit-making commodities. This is why, in the vast majority of
circumstances, I prefer socialism and social democracy to capitalism. The
successful response of China, Vietnam, Singapore, Scandinavia, Mongolia,
South Korea, New Zealand, Cuba, and the Indian province of Kerala to the
COVID-19 epidemic reinforced my distrust of laissez-faire capitalism,
sympathy for socialism, and faith in social democracy. In a similar sense, I
recognize capitalism's ability to alleviate poverty. Market reforms were crucial
in bringing Singapore, China, South Korea, Vietnam, and Ireland out of
poverty. The flood of foreign investors produces millions of employment
openings in the Philippines, essentially employing the lowest of the poor.
Assuming that the corporate income tax law is balanced in such a way that it
still stimulates investment, allows substantial permitted deductions, and
generates tax revenues for national development, this broadens the tax base.
Infrastructure development, enormous public investment in education, and
R&D to industrialize the Philippines and propel us to the forefront of scientific
 and technical innovation, as well as effective long-term planning, are all
required for us to become prosperous in the future. However, as I previously
stated, free-market capitalism is extremely harmful and must be regulated.
When left to their own devices, capitalists are willing to enslave and give
subsistence wages to their workers, as well as disregard rules designed to
protect labor rights and the environment, in order to cut costs and increase
profits. I'm not sure what is nastier than this. They are no less nasty than the
communists they despise; the difference is that their activities are legitimized
by liberal democracy and protected by government puppets. Even its most
ardent supporters believe capitalism is not an oppressive system, despite
abundant evidence that millions of students in the United States are drowning
in student loan debt and that price gouging of some pharmaceuticals is
rampant.
- This is why, in an ideal world, the Philippine government should maintain a
firm grip on the business sector in order to defend itself against corporate
lobbying, protect people and the environment from corporate greed, and
promote "people's democracy" in order to protect the Filipino proletariat's
material welfare and keep our voices alive and powerful.