World Declaration on Worker Cooperatives
A distinct advantage of emerging markets like the Philippines in the next two to three decades is the demographic dividend which endows them, not only with large domestic markets, but with a young and growing work force, in contrast with the aging societies in the developed world. Even in this era of highly advanced technology, human labor will continue to be a competitive advantage of the so-called "breakout" nations, to use a term of Ruchir Sharma of Morgan Stanley. It is important, therefore, that there be more innovative approaches to organizing workers for both productive and inclusive growth. One of these innovations has already been introduced to the Philippines by some pioneering labor leaders and is about to benefit from the work of enlightened legislators who are introducing a bill "to further strengthen the standard of protection and enhancement of the welfare of self-employed workers and craftsmen and the promotion of entrepreneurship, thereby amending Section 8 or Republic Act 8282, otherwise known as the Social Security Act of 1997."