Reading Group: “False Nostalgia by JC Punongbayan” Debunking Martial Law Dictatorship in the Philippines

The YSI East Asia Working Group invites participants to a special Public Book Club series featuring False Nostalgia: The Marcos “Golden Age” Myths and How to Debunk Them by Dr. JC Punongbayan. This initiative aims to foster thoughtful dialogue on history, economics, and disinformation, timed with the 53rd anniversary of Martial Law in the Philippines. Through this book—which uses accessible data, historical accounts, and economic analysis to dismantle nearly 50 myths about the Marcos era—participants will examine the role of narrative in shaping economic memory, public opinion, and political outcomes, with relevance not only to the Philippines but also to broader East Asian and global contexts.

The discussion series will run online on September 7, 14, and 21, culminating in a live talkback session with Dr. Punongbayan. Dr. Punongbayan is an Assistant Professor at the University of the Philippines School of Economics and a former Visiting Fellow of the ISEAS–Yusof Ishak Institute in Singapore. He earned his PhD from UPSE in 2021, graduating summa cum laude in 2009, and received the José Encarnación Jr. Award for Excellence in Economics and the Gerardo P. Sicat Award for Best Undergraduate Thesis. Before joining academe, he worked at the Securities and Exchange Commission, the World Bank Office in Manila, the FEU Public Policy Center, and the National Economic and Development Authority. His current research focuses on macroeconomics, Philippine economic history, education economics, and development economics. In addition to his weekly economics column for Rappler.com, his debut book False Nostalgia was published in 2023 by Ateneo de Manila University Press, and in 2024 he received The Outstanding Young Men (TOYM) Award for Economics.

The YSI East Asia Working Group is a community of emerging scholars dedicated to rethinking economic frameworks and fostering dialogue about East Asia’s historical, cultural, and economic trajectories. By situating this Book Club within YSI’s global network, we aim to bridge local economic discourse with international perspectives, create space for collective inquiry, and strengthen scholarly connections between East Asia and the wider world.

Interested participants can sign up at tinyurl.com/EkonseptoBookClub1