In his article, Benjamin R. Punongbayan gives his opinion on how certain Filipino cultural traits, such as risk aversion to entrepreneurship, “puwede na” mindset, and other behaviors and practices may be hindering the Philippines’ economic development. He argues that these traits contribute to a lack of innovation and entrepreneurial spirit, ultimately limiting the country’s potential for growth. However, Punongbayan suggests that with strong leadership and national reforms, these cultural obstacles can be transformed to foster growth and economic advancement in the Philippines.

To know more on how Filipino culture hinder economic development, read Benjamin R. Punongbayan’s full article on BusinessWorld online.