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Outrage, memes and amnesia

Business World Philippines

|

September 05, 2025

THE RECENT flood control fiasco offers a textbook case of our political cycle of outrage and forgetting.

- Jam Magdaleno

Ironically, the same cycle happens every few months. Last year, everyone seemed to be preoccupied with POGO and Alice Guo. A few weeks back, the same public gaze was turned towards online gambling. While it is understandable that people are enraged, what is concerning is that these events reveal a cyclical pattern in our public discourse.

For one, the endpoint of these issues almost always leads to more government intervention. Once the flood subsides no pun intended - it is predictable that the result of these hearings will be yet another layer of government oversight.

While oversight and fact-finding bodies are important to extract justice in some form, they are merely ex post facto. If we are to have any hope of addressing these decades-old problems, shouldn't we be more creative? Some proposals, like Ramon Ang's plan to fix Metro Manila's flooding, have already been forgotten.

Former Solicitor General Florin Hilbay rightly suggests that perhaps it is time to seek private-sector intervention, given that the cost of government-led flood control projects is often inflated by leakages.

Waiting for the government to carry out a self-inflicted overhaul is like waiting for Godot. No matter how many goodgovernance officials are in place, the very nature of politics ensures that self-interest trumps the public interest.

To understand why this is the case, we turn to the concept of public choice.

Business World Philippines'den DAHA FAZLA HİKAYE

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PHILIPPINE ECONOMIC growth may continue to undershoot the government's targets until next year as the lingering effects of the flood control corruption scandal will likely derail recovery, Maybank Investment Banking Group said.

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WHAT’S THE MOST important commodity for modern civilization? There’s a good argument that it’s not the ones we think about — oil, gas, copper, iron ore, gold — but something that’s ubiquitous and rarely grabs the attention of financial markets: concrete.

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PEZA says prospective investors shrugging off corruption concerns

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GOCCs ordered to prepare 2027 budget proposals

THE Department of Budget and Management (DBM) ordered state-run firms to start preparing their budget proposals for 2027.

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THE PHILIPPINES' balance of payments (BoP) deficit in 2025 settled below the central bank's full-year forecast despite posting a wider deficit in December.

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