Freedom, Responsibility and the Role of the State - Foundation Office Philippines
Lecture
Details
Programme:
03.00 pm: Arrival and Registration of Participants
03.30 pm: Welcome and Opening Remarks by Dr. Peter Köppinger
03.40 pm: Lecture and Discussion held by Prof. Dr. Rüdiger von Rosen
06.00 pm: Dinner will be served
More than fifty Filipino Centrist Democrats gathered on the afternoon of September 8, 2012 in Aristocrat Restaurant, Jupiter St., Makati City to learn about Economic Governance within the context of the Social Market Economy. The lecture on “Freedom, Responsibility and the Role of the State – Economic Governance on Capital Markers following the Concept of Social Market Economy” organized by the Konrad Adenauer Foundation (Philippines Office) was conducted by Prof. Dr. Rüdiger von Rosen.
In the lecture, Prof. von Rosen emphasized the important interaction between the political and economic systems and structures in facilitating inclusive growth. The government should provide the necessary political framework for economic activities to freely flourish. This includes setting up institutions, policies and programs that encourage highly functioning and responsible actors to participate in the economic life of the country. The government supervises and regulates these but intervention is only justifiable in extreme cases such as market failure.
At the outset, Prof. von Rosen reminded the audience that every country needs to solve its own problems based on its context. Although comparisons are important and helpful, the policy prescriptions that work well for one country may not work for another. A large part of the discussion centered on the Philippines' economic condition and suggested policy actions that can remedy these. Among these is the need for an economic climate that is competitive, not overly regulated but is consistent and stable. Facilitating the emergence of this economic climate would be a political system that understands the financial world and its responsibilities and that creates a balanced sharing of power among the executive, judicial and legislative branches of government.
