President Aquino declared today that for 2011, there's no more holiday economics!
Holiday economics is a program started by the Arroyo administration. What it does is to move holidays that landed on a weekend to the next working day. For some holidays that landed on the middle of the work week, it is pushed or pulled to either Monday or Friday.
I've long been a critic of this program, for two simple reasons:
1. As an entrepreneur, I know how it feels to pay extra for overtime that's supposed to be NOT an overtime. Employees sing praises to this, and I know I will be hanged for this critic. But really, as far as the general economy is concerned, does it do us any good if there is less work, more expenses? It kills productivity. It kills momentum. It kills the pockets of small time entrepreneurs.
2. Holiday economics also destroys the real meaning of the holiday. For instance, we celebrate our independence day June 12. In the past, June 12 landed on a Thursday. Because of the holiday economics, the "holiday" — meaning the day with no work is pushed on Friday, while the "holiday", the actual celebration is still done on Thursday. While the country is supposed to be celebrating our independence, everyone else is working — for the sake of having a long weekend. Where's our patriotism in all that? Looking at the big picture, it's really not something to cheer about.
So, next year, no more holiday economics. That's something to cheer about!