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With the world facing tough challenges such as climate change, terrorism and currently the global financial crisis, the Konrad-Adenauer-Stiftung (KAS) in collaboration with the De La Salle University- Angelo King Institute for Economics and Business Studies (DLSU-AKI) facilitated the 8th edition of the Young Economists’ Convention (YEC) on 16-17 of January at the College of Saint Benilde Hotel International Conference Center in Manila.

This year’s theme focused on the role of the environment in economic development with the title “Bridging the Global Divide: Agriculture and the Environment at the Forefront of Development”. Doctor Winfred Villamil, President of the Philippine Economic Society graced the event in his welcome remarks citing the importance of this forum of young economists not only from Metro Manila but all over the Philippines. He called for the importance of quarterly seminars and gave credits to the efforts of students in organizing the YEC and expanding regionally.

Ms. Malou Bernedo, President of the Junior Philippine Economics Society expressed the role of the youth in raising awareness on the effects of the environment to the country’s economy specifically to its food security. She shared that as poverty increases, the environment becomes vulnerable to abuses citing an example of the Marilao River in the province of Bulacan being one of the dirtiest places in South East Asia. The Philippines is currently ranked fourth in the world in Global Climate Risk. She also shared that the youth could participate and become conquerors of economic divides as changes begin with them.

Mr. Klaus Preschle, Country Representative of the Konrad-Adenauer-Stiftung (KAS) cited that the environment issue entails responsibility and actions must be considered. His keynote speech entitled “Is there an alternative to Casino Capitalism? The Concept of Social Market Economy”, focused on social market economy as an alternative to unbridled capitalism or “casino capitalism”. He shared the German economic miracle after World War II as an example of the outcome of this alternative framework by which Filipinos could adapt to adhere to the challenges that the country is facing today.

He said that the Social Market concept is a freedom concept and it wants to achieve a social balance. It still requires responsible actors as they are bound to a particular order to achieve justice and common welfare and this proved effective for Germany as its economy was able to recover economically and reunify without foreign help and it is currently serving as a leading force in shaping the future of the EU.

Mr. Preschle also shared that the Social Market economy is a concept for Economy, Society and Development and that by adhering to the social order it promotes equal opportunities, growing wealth and social progress quoting former German Chancellor Ludwig Erhard. He then shared the responsibilities of actors in observing the proper implementation of this framework.

Dr. J. R. Nereus Acosta, Secretary of the Council of Asian Liberals and Democrats and former Bukidnon Representative who authored the Clean Air Act and one of the proponents of “The Philippine Imperative”, a road map that would help government deal with climate change which was launched early this year, discussed how this move by different sectors like the academe, business and government to address the issues of climate change would help increase awareness and find solutions to alleviate the problem.

Nereus added that “climate change is here and we cannot avoid it and it should be seen as an economic issue.” He mentioned that the economy is rooted from the ecology thus these two cannot be separated. He also echoed what other speakers noted as the role of every individual in addressing these issues and doing something to alleviate problems. “We have no choice but to act and like in economics, there is no free lunch.”

Mr. Ed Tiongson, Vice President of Sustainable Technologies also agreed that the environmental issues that the country is facing today are rooted from economics and an environmental education drive must be adhered.

Dr. Ponciano Intal, Executive Director of the DLSU-AKI, shared his comments and views on the economy and development during the open forum.

The event was attended by more than 500 economics from DLSU and some students from all over the country, academicians and officials from the Department of Agriculture and the National Food Administration.