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Chikiamco
The movement from agriculture to industry is further hampered by policies like the CARP (Comprehensive Agrarian Reform Program), which keeps farms small, inefficient, and backward. His Ateneo yearmate, President Aquino, whose principal program of government is fighting corruption, should take note, because according to Nye, ...limiting corruption without reforming a legal and regulatory system that encourages and supports a distorted economic system is both futile and is likely, even with partial success, to encourage longer-run dysfunctions by increasing the strain between what is demanded and what opportunities are being bypassed. On August 4, Dr. Nye will give a lecture, sponsored by Asia United Bank, on Speeding Up Philippine Economic Growth: A Historical and Institutional Perspective. If you cant wangle an invitation, you can view his lecture on YouTube through this link,http://mercatus.org/video/lessons-new-institutional-economics-development, or you can download his ADB paper at http://www.adb.org/documents/periodicals/adr/adr-vol28-1-nye.pdf. Calixto V. Chikiamco is a board member of the Institute for Development and Econometric Analysis.