Crony capitalism

Thomas Jefferson once said that if it were it left for him to decide whether they should have a government without newspapers, or newspapers without a government, he should not hesitate a moment to prefer the latter.

The media is considered as the fourth estate or pillar of democracy, the others being the executive, legislative and judicial branches of government. The term “fourth estate” was said to have been first used by British statesman Edmund Burke in 1787 during a debate in parliament to emphasize the freedom of the press.

Media is without its faults, just like any institution. But while admitting that the press is chequered as it is with abuses, Jefferson acknowledged the press’ important role by saying that “the world is indebted for all the triumphs which have been gained by reason and humanity over error and oppression.” He said that “our liberty depends on the freedom of the press, and that cannot be limited without being lost.”

I do not know why ABS-CBN failed to air President Duterte’s political advertisements during the 2016 presidential campaign and return the P2.8 million paid for those ads, assuming this really happened. Somebody who controls the network’s management probably liked the other guy. Or maybe it was just a simple case of somebody failing to do his job in airing those ads or somebody at the network pocketing the money.

But after the President accused ABS-CBN of swindling, he also told Congress there was no need to renew the network’s franchise and even threatened to block its renewal.

Next thing we know, Solicitor General Jose Calida filed a quo warranto petition with the Supreme Court against ABS-CBN, seeking to void its franchise due to alleged abuses in the exercise of such franchise.

To make the long story short, this government is hell-bent on seeing to it that ABS-CBN is gone.

If indeed the management of ABS-CBN or its owners committed an illegal act, then they should pay for it. But ABS-CBN as an institution, as a member of the fourth estate guarding our democracy, should stay.

Nor should the thousands of families and employees who, directly or indirectly, depend on ABS-CBN for their livelihood, suffer.

In deciding whether or not to renew its franchise, Congress should consider the fact that ABS-CBN is not just about the Lopezes. The network is also composed of technical people, staff members, reporters, laborers, service providers, all of who stand to lose their jobs.

In fact, more than 11,000 direct and indirect employees of ABS-CBN will lose their jobs over ABS-CBN’s closure, employees who have families to feed.

This government’s relentless tirades against big business and so-called old oligarchs and the meteoric rise of the new oligarchs and their entry into ventures currently dominated by the old ones have not escaped the attention of conspiracy theorists who suspect that the Duterte administration is simply paving the way for the President’s cronies to take over ABS-CBN.

In an article for Rappler, UP School of Economics teaching fellow JC Punongbayan asked how many more companies will have to endure the President’s maneuverings, and how many more investors will turn their backs on the Philippines, what with a thickening fog of uncertainty hanging in the air.

This attack on ABS-CBN will surely weaken investor confidence in the country and may discourage foreign companies from infusing capital in the country.  ABS-CBN’s closure could also make international debt watchers such as Fitch, S&P and Moody’s reverse their recent upgrade of the country’s credit rating.

For its part, Democracy Watch, an advocacy group that monitors the status of democracy in the Philippines warned that if this is allowed to happen, “we may be at the beginning of another crony capitalist era that’s even darker than the Marcos dictatorship.”

For comments, e-mail at [email protected]