The economics of EDSA dos
Date
2002-03
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Abstract
The Economics of EDSA Dos develops a public choice economics approach to the widely celebrated socio-political event, the January 16-20, 2001 EDSA Dos Revolution. The study used the January 27, 2001 SWS Survey on People Power 2 and Change in the Presidency wherein 300 individuals were surveyed. Using binary logit analysis, the study held participation in EDSA Dos as the dependent variable with age, sex, political party affiliation, working status, educational attainment and socio-economic class as explanatory variables. The over-all model is significant at 1% confidence interval, while the variables for age, socio-income class, and education are the significant ones. Age has a negative coefficient, indicating the participation of the youth. The probability of participating in EDSA Dos is higher when one finished college or had post-graduate studies than when one achieved lesser than elementary education. A higher probability also exists for those belonging to the AB and C socio-economic level than those belonging in Class E. Participants and sympathizers of EDSA Dos are classified into five and their motives are as follows: a) push for their own narrow principles for zealots, b) fear of guilt and desire for changes for advocates, c) need for more power, income, and prestige for climbers, c) love of country for statesmen, and e) need to go along with the flow for conservers.
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EDSA, People power, Political economics, Economic impact, Economic crisis