Philippine E-Journals

The Dark Side of Capitalism: How it Made Boholanos Live Astray

Ernesto O. Golosino

Discipline: Economics

 

Abstract:

The classical economists painted a beautiful picture about capitalism under the jargon globally known as laissez-faire. This doctrine hypnotized several societies as indexed by the globalization of commerce and at present the advent of economic integration. It is from these contentions that the researcher wanted to expose the not so famous side of capitalism as experienced by the Boholanos and ascertained the reasons behind the exclusivity of its benefits. To deliver the arguments anchored on neutrality, an intensive literature review was done to bring forward the glory and failure of capitalism. This was complemented by a field interview in order to take the views of the businessmen, the buyers, the government and the church. The results revealed the sterile role played by capitalism and the capitalists in general. The alluring fruits of free enterprise taste not only sweet but also sour. It was discovered that the promised benefits of trade failed to trickle down to all market players. In the case of Bohol, only the capitalists exclusively amassed greater wealth at the expense of the society. The bi-products of the economic transactions were unloaded to the ordinary citizen in the form of waste across all dimensions.