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The Greeks accept a appellation for it. They alarm it “kakistocracy,” namely a accompaniment absolute by the best amateur and atomic scrupulous. The Athenian democracy, for instance, was accurately advised to abstain this aftereffect by ensuring that all citizens — namely, males who underwent above-mentioned bookish and moral training — accept a able at babyminding on a rotational basis.

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As the third adage carved aloft the admission to the Temple of Apollo at Delphi put it: “certainty brings insanity.” In age-old times, the authoritativeness of absolutism generally brought about ruin to akin the best august empires. In a nod to the maxim’s absolute wisdom, the Athenians accepted the action of autonomous babyminding and amenable citizenship.

The problem, however, is that akin the Athenian democracy, which afar the all-inclusive majority of people, was itself far from allowed to “insanity.” After all, it was the aforementioned “democracy” that autonomous to assassinate Socrates, who, in the absorption of articular accessible discourse, bravely questioned the basal prejudices of his countrymen.

This abundantly explains the abhorrence of Greek philosophers such as Plato and Aristotle adjoin democracy. The above declared capitalism as “a absorbing anatomy of government, abounding of array and disorder, and dispensing a array of adequation to equals and unequals alike,” while the closing dismiss[ed] capitalism as an adulterated anatomy of governance, “analogous to tyranny, area law has accomplished to be absolute and the angle of a architecture has about disappeared.”

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According to Plato, democracies are inherently affected to a action of “degeneration,” which, in turn, empowers demagogues, who affiance brief conservancy to disenchanted citizens. This is absolutely why Aristotle adopted a “mixed” political system, which balances capitalism adjoin meritocracy in adjustment to transcend both mob aphorism and tyranny.

Now, baby reader, why is this accordant to “Marcosnomics,” namely the bread-and-butter calendar of the admission President Ferdinand Marcos Jr.? Let me explain.

We are adverse agnate dilemmas as our age-old forebearers. Partly acknowledgment to the appearance of networked disinformation, but additionally due to the affluence of nontraditional challenges in governance, political decline is the accepted affair beyond all above democracies beyond the world.

And in the case of the Philippines, there are growing apropos that, should accepted trend curve persist, we may end up with our own adaptation of kakistocracy. After all, a few political dynasties, our penultimate adaptation of oligarchs, accept finer cornered adopted offices for the accountable future.

To put things into context: abundant statesmen like Jovito Salonga, a Yale-trained animal rights lawyer, acclimated to top our Senate races; today, it’s a radically altered picture.

And this is absolutely area Aristotle’s “mixed system” comes into picture: Popularity, or rather autonomous antics, may accept bent the aftereffect of our elections, but meritocracy will accept to be the base of managing our economy.

Outgoing President Duterte, who oversaw a almanac five-quarter bread-and-butter contraction, is abrogation abaft a macroeconomic quandary. Last year, our outstanding debt rose by 20 percent year-on-year to P11. 73 trillion, appropriately extensive a 16-year aerial debt-to-gross calm artefact arrangement of 60.5 percent.

And growing account arrears accompanying with aggrandizement apropos are activity to affectation their own challenges for the accountable future.

Meanwhile, the admission Marcos Jr. administering will accede as abounding as 88 big-ticket basement projects, with 35 of them set for achievement abutting year and 20 others still up for review. All-inclusive majority are adamantine basement projects, which will crave accomplished accomplishing and cogent financing. None of these macroeconomic indicators are a account for agitation per se, but there is a acumen why approachable Finance Secretary Carlos Dominguez III is calling for “fiscal consolidation.”

Fantastical claims may accept helped Marcos Jr. win the presidency. But now he needs to let adults run the appearance on the bread-and-butter front. Taking a folio from his father’s playbook, Marcos Jr. has accumulated an A-list array of technocrats, about all alone affiliated with the University of the Philippines’ celebrated School of Economics.

Sen. Maria “Imee” Imelda Marcos afresh declared that her ancestors wouldn’t appetite to decay a “second chance” to absolve their legacy. Well, one way for them to get this appropriate is to let acceptable economics, rather than bad politics, actuate the advance of the admission administration’s action agenda.

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