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The argument on the value or disvalue of children has long been an issue in both sociological and demographic fields. This paper briefly reviews the two sides of this issue and offers a critique of the "disvalue hypothesis" in terms of Caldwell's theory of fertility decline in developing nations and in terms of the true nature of subsistence living in both rural and urban environs of Southeast Asia, particularly the Philippines. The issue of the value of children needs to be viewed from an anthropological perspective in light of the on-going Scott-Popkin debate.