The COVID-19 pandemic paved the way to a considerable loss of human life as

well as presented an unusual dilemma to public health. More than that, it has affected
the economy of various countries worldwide. In the Philippines, this circumstance has
pushed reduced productivity, business closures, trade disruption, and the ravage of the
tourism industry. With that being said, the government has carried out its responsibility
in continuously regulating the market, raising funds, and providing collective goods.

Undeniably, this pandemic has taught people about the importance of money.
This medium of exchange has allowed one to obtain what one needs to live. Alongside
our country's current situation where we are faced with rising inflation and dwindling
commodities, printing money appears to be the main solution to make everyone affluent
and eradicate the issue of poverty. In point of fact, people would question the Philippine
Government as to why not print more money through the help of the Bangko Sentral ng
Pilipinas (BSP) to increase wealth. BSP is the central monetary authority in the
Philippines and has a huge responsibility in maintaining a sustainable economy and
promoting stability. Indeed, printing money is contrary to the most basic principles of
economics since it is based on the idea of supply and demand. If people printed more
money, there would be an artificial overabundance of demand, but the supply of goods
would not increase at the same rate.

As stated by Perez (2020), printing more money can also cause harmful inflation.
Truly, the government cannot just do such to get out of a slump. This is because money
is a facilitator of exchange between people. If one prints more money, they directly
affect the terms of trade between money and goods. Effectively, if the said thing
happens, people have more cash. The total quantity of goods is, nevertheless, the
same. In fact, individuals are willing to spend more because they have more money to
spend on things in the economy. As a result, if the money supply is doubled, but the
output remains unchanged, everything becomes more expensive. The rise in national
income will only be monetary. Creating more money is not as easy as it sounds. As
citizens, we should be responsible and assure not to be dependent on our government
to provide us with our basic needs. We have to increase our money through ourselves
by considering businesses, jobs, and investments.