The fallacy of conservative economics

When the media recently said that Korea's population decline is expected to become serious, some said that due to the nature of Korea, which has a large population density, it is not bad to reduce the country's population to an acceptable and appropriate population. Such an opinion was expressed without recognizing that Korea's economic development was caused by the division of labor system, domestic demand size, and a large number of educated brains. In addition, due to the nature of path dependence, population extinction will accelerate further, and the path to destruction will come faster. For example, as the number of the elderly and the elderly increases, past-oriented politics that embody the political power of the elderly and the elderly begins, and past-oriented politics accelerates further destruction. It can be said that China, Korea, Japan, and Russia have entered the path of attenuated path dependence. The path of a conservative political economy is a path that should not be taken.

 

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I once criticized many economists for attempting to tie economics into quantitative and statistical disciplines, and I think they have induced it to act as a conservative reality by excluding value-based elements of economics. That's what I think as a realistic living person, not an economist.

 

On one occasion, the current government in Korea came up with a policy to reduce the amount of unemployment benefits and control unemployment benefits because it ran out of employment insurance funds. In reality, the government's policy is a decision not to consider that unemployment benefits in Korea are very useful for short-term contract workers, low-wage workers, and low-level workers in 3D jobs, and serve to attract workers to labor-intensive jobs. When I looked at the workers receiving unemployment benefits, most of them were contract workers suffering from difficult workplaces and low wages. Due to the nature of the conservative economic policy, the economic planners of the current government in Korea regarded the lower-class workers as insignificant and hateful.

 

 

When a conservative government is established in Korea, the government is busy encouraging workers to work hard by making past-oriented ideological judgments without thinking of boosting the overall atmosphere of the social economy by pulling out the abilities of field workers. The reason is that there are many religious people, real estate or financial income earners, and ideologicalists behind the conservative government. Such a phenomenon alienates the national economy itself from manufacturing. And as a result, the real estate and financial sectors are enlarged, eventually making the national economy vulnerable to recession and strengthening social stratification, creating a futureless economy. It's an extreme metaphor, but it's easy to understand what will happen if Ponzi schemes or crypto fairs occupy a large area of the economy.

 

 

Many of the high-productivity services that are supposed to be replacing manufacturing – such as finance, transport and business services (e,g,.management consulting, engineering, design) = can not exist without the manufacturing sector, because it is their main customer.

 

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This why countries with strong manufacturing industries, like Switzerland and Singapore, also have strong service industries (although the service is not necessarily truce).

 

- [ Edible Economics ] by Ha-Joon Chang -

At first glance, we think that the development of the real estate and financial sectors is a representation of capitalism, but Switzerland and Singapore. Germany, Japan during the revival period, and the United States during the growth period are all manufacturing powers. Korea will need to quickly bring politics and the economy into a practical atmosphere to grow its future. The current global economic turmoil is due to the invasion of a conservative coalition of ideological, political, economic, military, and religious groups.