Abstract
Most economic analysts have argued that the failed currency policy of the Philippine Central Bank during the 1950s prevented the development of a robust export sector. Thisarticle examines the economic thinking that led to the Central Bank’s policies through a reassessment of the ideas of its first governor, Miguel Cuaderno. Reading Cuaderno’s memoirs and speeches from the period shows that anti-inflationary beliefs consistent with twentieth-century ideas of austerity informed his thinking. Thearticle hopes to contribute to the literature on “macroeconomic policy regimes” by examining how they are produced and reified through language.KEYWORDS: MIGUEL CUADERNO • AUSTERITY • INFLATION • CURRENCY • DEPRECIATION
Recommended Citation
Claudio, Lisandro E.
(2021)
"The Father of Filipino Austerity: Central Bank Governor Miguel Cuaderno and Anti-inflationary Ideology in the 1950s,"
Philippine Studies: Historical and Ethnographic Viewpoints: Vol. 69:
No.
4, Article 3.
DOI: https://doi.org/10.13185/2244-1638.1103
Available at:
https://archium.ateneo.edu/phstudies/vol69/iss4/3
