The Philippines' Large Population is an ASSET, never a Liability

The people are the greatest asset of every Nation. They cannot be replaced, in most cases, with the latest technologies we have around. That is why; investing in our people, in terms of education and skills development, should very much be in the focus of our Government. After all, the more educated and skilled our populace is, the more economic gains we will have and the more we can uplift the condition of our poor countrymen.

There is a common notion that “our country is poor because we are too many” and that one way to realize progress is through population control. On the contrary, I do not subscribe to that idea. We are poor, not because we are many, but because our Government Leaders kept on imposing abuses on our money which are meant for Social Services and Development. The President, Benigno Aquino III, sums it all: “Kung walang corrupt, walang mahirap.”

   

Therefore, trying to control our population in the name of progress is quite ironic. Look at countries like Singapore, Germany and others who have successful population control programs, they are now regretting what they have done. They are coming to realize that the best resource they can have is its people.   

Human Capital and Population Decline

The recent data (2012) from the National Statistical Coordination Board under the office of the Philippine Statistics Authority reveals that the Total Fertility Rate (TFR) in the Philippines “decreased from 7.2 in 1960 to 3.1 in 2010.” Meaning, the average number of Children that will be born by a Filipino woman throughout her lifetime is 3.1 or 3. Considering the decreasing trend in the country’s fertility rate; the implementation of the Reproductive Health Law, where population control is being emphasized; and the consistent rate of infertility affecting couples, it is interesting to note that the possibility of a “demographic winter” or population decline might soon be realized in the Philippines. And this, unfortunately, has far reaching implications in the country’s human capital and soon, thereafter, economic growth.

Interestingly, a study conducted by HSBC in 2012 (The World in 2050) supported the proposition that a large population has a large potential to boost economic growth, and to quote: “First and most straightforward, it is generally easier to produce more stuff when you have more people on the production line.” The same study also revealed that, in the next 40 years, the Philippines will be one of the largest economies of the world because of its large population: “The star performer, however, is the Philippines where the combination of strong fundamentals and powerful demographics gives rise to an average growth rate of 7% for the coming 40 years.”

Given the fact that large population is a major economic driver to achieve growth, the coercive population control measure that we currently have must be repealed.

What Government must do

The government, through the schools, must ensure that our populace are equipped with the necessary skills needed for the betterment of their job performances. In addition goverment should encourage the people to take courses related to their skills and interests, and not just according to what is popular. In this way, our labor pool will have a workforce with diversified skills. And a workforce with diversified skills will attract more investors which will later result to more creation of jobs.

I therefore conlude that educating and training our large population is the key to achieve real progress.