05 May 2011

"Workers spend what they get; capitalists get what they spend."

Reference to the Speech of President Aquino at the 32nd National Conference of Employers


I like this speech of PNoy before the ECOP. The gist of his message to the employers reminds me of Keynes and the aphorism of Kalecki: "Workers spend what they get; capitalists get what they spend." 



I hope PNoy maintains this common sense in the art of creating a middle-income nation where economic growth leads to high income for the workers, increased earnings for the investors, and a larger tax base for the government!

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