A huge reason why the Philippines is such an underdeveloped country
is that a handful of landlords own the majority of agricultural land, which was passed down since the Spanish colonial period.
With generational wealth, poor Filipinos continue to elect these landlords in government positions, further increasing inequality.
An economy built on extracting value from natural resources (i.e. agriculture, mining) will always be poor.
Mining and farming really don’t need that many people to create value.
A landlord, with good land, would only need a couple of cheap tractors and drills to build wealth.
Hence, the average farmer/miner will continue to have low wages, as they wouldn’t have that much bargaining power.
Meanwhile, factories are inherently labor-dependent, which incentivizes business owners to compete for skilled labor.
This means relatively better compensation, and wealth, for the common Factory worker vs. Farm worker.
Add the fact that, agri/mine products are relatively lower valued compared to goods produced in industrialized factories.
Which makes our Pinoy landlords generally poorer compared to those industrialized behemoths in other countries.
However, if you’re already a Pinoy landlord making boatloads of wealth, you wouldn’t really be incentivized to industrialize your land ownings.
You’re already rich.
The only people who would greatly benefit from industrialization are poor Filipinos, na kung yumaman man, would probably not vote for your Political Dynasty next elections. 
In any case, the Philippines is generally f*cked at our current state.
So good luck to us. And let’s just continue our Unity with our landlord-politicians 
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Here’s a good video that further deep dives into the topic:
