With the cultural theories embodied in the ideas of Gianni Vattimo, this thesis attempts to explore the relevant assessment of exchange value (versus absolute value) in re-evaluating the present cultural situation in the Philippines. Replete with influences and cultural transformations from previous groups of colonizers, the optimum time for re-evaluation is now and resolutions to the state of an appropriate attitude towards a Filipino national identity has never before been challenged. There are, in the minds of the Filipinos, aging and irrelevant symbols of national heritage that need renovation so as to express this new opportunity of somewhat total autonomy. At this crossroads of possible cultural shifts, hypotheses arise in the search for appropriation. It is possibly the time to express that shift rather than develop a prescription for a new national identity.