Has the Philippines become an oligarchipelago?

Oligarchy

By Yen Makabenta/manilatimes.net – I planned to reserve the term “oligarchipelago” for a book that I am writing and which keeps me awake most nights these days, but President Duterte‘s loud blast against oligarchs last Wednesday in Malacanang has forced a change of plans.

The subject cannot wait. The issue is rife for comment. As I write this, I read in the news that Roberto Ongpin, the business tycoon singled out by the president as an oligarch, has resigned his positions as board chairman and director in Philweb, the online gaming company.

President Duterte’s denunciation of oligarchs sent me scurrying for my research notes on the Philippine oligarchy, and for competent information on the concept of oligarchy.

By highlighting Ongpin for shaming, DU30 actually moderated the bite and sting of his declaration that Philippine wealth is controlled by only a few, because Ongpin is hardly the only oligarch in this country.

The reality is that this country is controlled and run by oligarchs in cahoots with political dynasts.

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