Tuesday, June 18, 2019

Tito Ortiz, the philosopher-banker

This coming June 27, the UP School of Economics Alumni Association (UPSEAA) will have its 2nd Boardroom Session with speaker Dr. Justo "Tito" Ortiz, Chairman of Union Bank of the Philippines (UBP). The speaker of the 1st Boardroom Session was Ms. Robina Gokongwei Pe last May 24. I was not able to attend her talk because I was in Sydney for the ALS-ATA-WTA conference, May 23-26, 2019.

I have heard Tito Ortiz once in a PIDS forum last January 18, 2019 at Shangrila Edsa Hotel and I was very surprised to see and hear a banker talking about political philosophy in relation to government regulations. He showed several slides, I took four photos and missed other slides.

Below, the banker quoting Bentham, Kant, Plato and Aristotle, cool.

State control vs AI rules and algos. For me, the former is outlandish of course.

Five types of progressive regulation and I think typical bureaucracies would dislike all of them These regulator-bureaucrats regulate, restrict and prohibit for the joy of doing it, they derive pleasure that people are forced to be nice, even kneel before them just to get their signatures and permits.

Yes, lare-scale central planning by politicians and bureaucrats, including double-PhD planners, is dangerous and lousy.

My idol economist-philosopher Friedrich Hayek (he won a Nobel Prize in Economics) made this advice or warning to many economist-central planners:
Meanwhile, some friends who also attended the PIDS forum that day, from left: Jude Esguerra (former NAPC USec.), Dr. Fidel Nemenzo (UP's VP for Research, also faculty member of UP Math Department), me, and Dr. Nandy Aldaba (Dean, Ateneo Economics Department).

Post-conference cocktails for speakers and sponsors/organizers. I was not a speaker nor sponsor but I have friends in both category so joined them in one table. To my left, clockwise: Dr. Roehl Briones of PIDS, Dr. ______ of WB Western Pacific, Dr. Vic Paqueo, Dr. Gerry Sicat, Mr. ______ of NEDA, Dr. Manny Esguerra, and Ms. ____ of Grab Singapore.

Beer with my former UPSE teacher Vic and the famous Gerry S.

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