Three Core Values of Development Economics

Three core values serve as standards of development.

Sustenance. This refers to the capacity to meet basic necessities such as food, clothing, and shelter. Lack of even one of these means that a person's life is not progressive. A country develops if its citizens have enough or more than enough for their basic necessities, there is growth of income, extreme poverty is addressed, and there is equality among members of society.

Self-esteem. The quality of life is good when there is respect, trust, and self-value. Each person has needs which can be achieved through the presence of respect, dignity, and a good reputation in society. A person's worth as an individual cannot simply be measured by the ownership of material things which is often given emphasis by progressive capitalist countries such as the United States. In the Philippines, material wealth is not the only important thing but the love for one's family, the family's reputation, and a person's dignity and self-esteem. A country is developed if this unique need of the people is addressed.

Freedom from Servitude. This freedom is drawn from liberation from oppressive systems in society, poverty and abuse, slavery, ignorance, and the absence of the freedom to choose one's culture or religion. This freedom can be seen in the range of choices in a society. What is good about development is not only the joy of being free from poverty but also the availability of a wide range of choices. In general, freedom prevails if people live a comfortable life, if they have the freedom to choose their religion, to vote and to express their opinion about administration and governance, and if they enjoy equal opportunities for education and employment.