David Ricardo (The Principles of Political Economy and Taxation, 1817) defines political economy as "an inquiry into the laws which determine the division of the produce of industry amongst the classes who concur in its formation." In this connection, the study of economics is consciously and organically linked to what is called "the practical aspects of political action" (The MIT Dictionary of Modern Economics, 4th edition, 1996). Against this background, this short piece proceeds to inquire into the political economy of the Estrada administration. How is the wealth (or the produce) being divided? What courses of political action have been undertaken by the dominant forces to capture the economic gains arising from public policy?
