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ʺMBnomicsʺ : A review and the road ahead
- ʺMBnomicsʺ
- Jwa, Sung-Hee
- International Council on Korean Studies
| Title |
ʺMBnomicsʺ
Similar Titles
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|---|---|
| Sub Title | A review and the road ahead |
| Material Type | Articles |
| Author(English) |
Jwa, Sung-Hee |
| Publisher |
[Washington, D.C.] : International Council on Korean Studies |
| Date | 2008 |
| Journal Title; Vol./Issue | International Journal of Korean Studies:vol. 12(no. 1) |
| Pages | 18 |
| Subject Country | South Korea(Asia and Pacific) |
| Language | English |
| File Type | Link |
| Original Format | |
| Subject | Economy < Economic Administration |
| Holding | ICKS |
| License |  |
Abstract
This paper reviews the first six months of MBnomics - its strengths, weaknesses, accomplishments and failures, along with suggestions for improvement. Throughout, the paper stresses the unevenness and lopsided nature of economic development which is viewed as the result of economic resources joining and concentrating towards competent, viable economic entities. Such an evolutionary process not only makes economic activity possible, but also leads to individual agents’ and national economic development. After reviewing Korea’s developmental experience over the past 4 decades, I argue that Korea needs to move away from the egalitarian policies of the past 15 years (the so-called “Egalitarian Trap”) by learning from the earlier decades of high growth and economic development when the flow of resources to economically competent agents and regions was encouraged under highly discriminatory policies. (The rest omitted)
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