SYNOPSIS

At 3.8 % of GDP, the Philippines's spending on Covid stimulus is one of the lowest in Southeast Asia, despite it being the worst hit in the region. Austerity is so baked into Philippine policymaking that even the worst pandemic in recent memory has failed to convince the government to spend. Using the present policy disaster as a springboard, this lecture presents my initial thoughts on the history of austerity economics in the Philippines. From the implementation of the American gold exchange standard in 1902 to the collapse of authoritarian developmentalism in 1986, various events in Philippine history have reinforced the "values" of high currency, low debt, low spending, and low inflation. Apart from outlining this history, this lecture will also sketch a method for studying Philippine economic history using intellectual history and textual interpretation.

ABOUT THE SPEAKER

Lisandro E. Claudio is Assistant Professor at the Department of South and Southeast Asian Studies, at the University of California,  Berkeley. An intellectual historian of the Philippines, his book Liberalism and the Postcolony: Thinking the State in 20th-Century Philippines was awarded the George McT. Kahin Prize by the Association of Asian Studies.

REGISTRATION

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