Laissez faire vs. 1987 Constitution
The Constitution is primarily a document of social justice and, although it has recognized the importance of the private sector, it has not embraced fully the concept of "laissez faire" or relied on pure market forces to govern the economy. (G.R. No. 96169)
Laissez faire is an economic system in which transactions between private parties are free from any form of government intervention such as regulation, privileges, imperialism, tariffs and subsidies. Proponents of laissez faire argue for a complete separation of government from the economic sector. https://en.wikipedia.org/wiki/Laissez-faire.
There are four reasons why the principle of laissez faire is not fully recognized in the Philippines. They are that:
[1] The Constitution calls upon the State to protect the rights of workers and promote their welfare;
[2] The Constitution also makes it a duty of the State "to intervene when the common goal so demands" in regulating property and property relations;
[3] The Charter urges Congress to give priority to the enactment of measures, among other things, to diffuse the wealth of the nation and to regulate the use of property; and
[4] The Charter recognizes the just share of labor in the fruits of production. (278 Phil. 747)
Laissez faire is an economic system in which transactions between private parties are free from any form of government intervention such as regulation, privileges, imperialism, tariffs and subsidies. Proponents of laissez faire argue for a complete separation of government from the economic sector. https://en.wikipedia.org/wiki/Laissez-faire.
There are four reasons why the principle of laissez faire is not fully recognized in the Philippines. They are that:
[1] The Constitution calls upon the State to protect the rights of workers and promote their welfare;
[2] The Constitution also makes it a duty of the State "to intervene when the common goal so demands" in regulating property and property relations;
[3] The Charter urges Congress to give priority to the enactment of measures, among other things, to diffuse the wealth of the nation and to regulate the use of property; and
[4] The Charter recognizes the just share of labor in the fruits of production. (278 Phil. 747)
