Remarks on the launch of Toti Chikiamco’s book “The Way Forward: The Path to Inclusive Growth”

Remarks on the launch of Toti Chikiamco’s book –

“The Way Forward: The Path to Inclusive Growth”

National Bookstore, Glorietta, Makati City

Aug 26, 2015

Launching of Toti Chikiamco's book - "The Way Forward: The Path to Inclusive Growth", August 26, National Bookstore, Glorietta. Below picture of author and FEF President Toti Chikiamco with Sen Sonny Angara, Sec. Arsi Balisacan, FEF Senior Advisers PM Cesar Virata and Dr. Gerry Sicat, and Fellows of the FEF. FEF is the Foundation for Economic Freedom

Sec Arsi Balisacan, Sen. Sonny Angara, PM Virata, Dr Gerry Sicat, Senior Advisers of FEF, FEF Fellows, fellow fans of Toti Chikiamco:

Foundation for Economic Freedom Chairman, Bobby de Ocampo’s, apos-tolic work required his presence across the seas. He therefore asked me to convey his apologies, and his happy congratulations to Toti Chikiamco.  And his warm thank you Toti, on behalf of FEF and all the Fellows,   for your kind dedication of this volume to us. And for your resolute dedication to FEF, as its President-CEO since 2011.

Bobby de Ocampo would have loved to be here.  The genesis of FEF goes back to early 90’s, when he was Finance Secretary. FEF's philosophy was shaped by the circumstances and govt thinking of that time -- the unleashing of private sector energies through market friendly reforms and good governance.  Indeed this is thinking that traces back to reforms from an earlier period pushed by PM Virata and Dr. Sicat.

Please forgive a bit of nostalgia from this new senior citizen. FEF's started as an impromptu  dinners club-- to some extent it still is--  of like minded people who came from different careers, but found themselves united by  common cause on orphaned issues of the day.  I think the catalyst was the P1 peso per litre Leung Levy in early 90's which was opposed by everyone-- communists, rightist putschists, some business groups like the Federation of Phl Industries, CBCP, you name it.

All except for guys who on their individual capacities, were writing, talking, pushing for this necessary measure to stabilize the country’s fiscal situation and nurture development. Who then decided to meet every now and then  for dinners, KKB or  with rotating host,  to see how they might be listened to more, how to educate the public, especially legislators and policy makers, and how they might help reformers inside government who badly need support and encouragement.

These impromptu dinners, included from government--we at the DOF--Ernest Leung, later Bobby De Ocampo, and at NEDA--Dondon Paderanga. The academe/UPSE then dean Philip Medalla, Raul Fabella, Ruping Alonzo, Dante Canlas.  From   the private sector, civil society—PM Virata,  Mahar Mangahas, Ramon del Rosario, Francis Varela, Alex Magno, Bong Montes, Simon Paterno, Tony Abad, Alan Ortiz,  and Toti Chikiamco. Though it was Mahar Mangahas who gave FEF its name - a Chicago boy at heart-- and ex DOF guys who made funding from bilateral grants happen, it was Toti who was the most consistent, persistent and coherent as a publicly intellectual. His weekly columns which had a strong following among “shakers and movers” as one official termed it contributed much to shed light, provide broader perspective on the issues of the day.  He likewise lent his pen on the various advocacies of the FEF.

These FEF advocacies have met with various degrees of success over the years. Raging incrementalist at heart, such setbacks under Philippine political conditions were taken as a part of the game. 

Such efforts and FEF batting scores/contribution in the reform efforts included pushing "good to haves" like adjustments in excise taxes on tobacco, alcohol, oil (check) or reform of the VAT (check) liberalization of retail trade (question mark) , privatization/PPP (notably MWSS) (check) opening up the economy to foreign investments (question mark) property rights (check with success in land patent distribution), peace and development in Muslim Mindanao (question mark).

And trying to put a stop expose such flawed policies/programs like subsidies for Napocor (check)  NFA (XXX) CARP extension (check) a central oil procurement by government (check) an overly generous Feed In Tariffs  for RE (partly check)  and  exemption of senior citizens from VAT (XXX -- something i lamented then, but now changed my mind). 

He likewise agreed to serve was our third Chairman in the early years, after Dondon Paderanga and Mahar Mangahas. More recently, we were lucky and grateful when he accepted in 2011, the more demanding job of President-CEO. Thereby breathing new life into FEF, not just as a voice for orphaned issues, or catalyst for ideas, but as an implementer of development projects. Nowhere is this more evident than in the work, that he, Elmer Mercado, Ric Balatbat and team have done in the area of property rights-land patents to be exact. The number of free patents issued before RA 10023 was only 3000 annually. After RA 10023, which he helped push through Congress, and with the 150 partnerships that FEF has forged with LGU’s in land titling, 60,000 titles each year have been issued to newly economically empowered families.

Now on Toti Chikiamco the author and on this, his third publication and compilation of works. Allow me to quote a few lines of what a few Fellow have said. Starting with our Chairman, Bobby de Ocampo.

“There are some who may think of economists as theoretical and obscure. Others may view them as simultaneously argumentative and detached. Not so economist Calixto “Toti” Chikiamco. Anyone who reads his book compiling his numerous articles and opinion pieces will probably think instead of adjectives like engaging, committed, courageous, and patriotic yet also global.

And then he ends: “Often one can feel his frustration at the country’s seeming inability to rise above mediocrity brought in no small way by political leadership that is self-serving, myopic, small minded and hypocritical, not to mention of course corrupt and bereft of vision. But still, one can equally sense his undying hope that a better day will inevitably come.”

And Professor now Monetary Board member Philip Medalla, our former long time FEF Chairman said in the foreword of his earlier work “Why We Are Who We Are": “Yet it is rather obvious that Chikiamco is neither a rent seeker nor one who has surrendered the debate to special interest groups. His columns show an intense desire to change what is wrong with our society, especially in its incentive structure. Moreover, he thinks that by writing about why many policies are so good for the privileged elite, but so bad for the most of us, he would not only be able to explain why we are who we are, but also be able to change what we are..”

And Professor Emeritus and National Scientist Raul Fabella, in his Foreword in this new book— “As some of his writings attest, he can be very eloquent on reasons for pessimism. There was a period when Toti begged to be left un-engaged, describing himself as already a “mental and emotional self-exile”.  The difference is that Toti always bounces back to fight another day.

I leave to you to read and enjoy the many sincere, engaging thoughtful words of appreciation and high esteem, in the first pages of the book, many of them from FEF fellows, including our Senior Adviser, Dr. Gerry Sicat.  He captured in a thoughtful testimonial in the book, the essence of why Toti refers to himself as a political economist in the tradition of Smith and Ricardo. "(Thus) economic problems involve the political process in order to correct them. This is one reason some of the essays carry on a political side. Solutions require convincing government and the men who compose and make decisions. The topics range from politics and economics in the large, to development issues in the small-- constitutional change, entrepreneurship, national security, wages, income and social inequity, poverty, land rights, property rights."

For those who only know Toti from his column, you should be aware that Toti has a day job as a net entrepreneur. This has enriched his writings even more—perhaps just as hardships and ordeals contribute to the shaping of an artist.  Though Toti may not quite see it gratefully that way when he rages, at times not so incrementally, against an uncompetitive exchange rate regime or public utilities especially unsatisfactory telco services, essential to BPO space where his business is.

This synergy between public intellectual and grounded entrepreneur is summed up well by former Chairman of SGV group, also a Fellow and Trustee of FEF--Glo Tan Climaco: “Toti is an economist who passionately loves his country. He is also a businessman who competes and has to survive in the real world. This rare combination makes his essays very compelling reading for me. I find his observations and suggestions realistic and practical. Many times I learn new ideas. This book has gems of wisdom.”

Let me end now on my own final gem of wisdom—“Please buy dozens of books, and give to your friends for Xmas!”