We usually stand poles apart from militant groups when anything related to business and the economy is on the public agenda. But this time, on their proposal that the Social Security System provide help to members who are laid off, hopefully temporarily, we are in agreement with them. It is fair. It is socially beneficial. It also makes economic sense.
The militants’ proposal is, in fact, nothing new. During the dollar crisis in the early 1980s when the Philippines had to declare a moratorium on debt payments, the economic downturn was far more severe than what is projected from the current global slowdown. That period was characterized by layoffs not seen since the Japanese occupation period.