Chung Un-chan, a former South Korean prime minister and economist, once called the nation's economy a casino economy. The casino economy refers to a phenomenon in which the size of the financial economy, which is the flow of capital, overwhelms the real economy. This problem was the reason for predicting the dark future of Korea, which I felt earlier as I wandered around the bottom of the real economy.
https://hyeong-chun.blogspot.com/search?q=real+economics
The reason why the Korean economy has become a casino economy is that it has not been able to function as the self-cleaning action due to ideological controversy. In addition, the Korean economy has criticized the real economy as primitive and shallow in the name of pure capitalism. While driving a bus, I was surprised to learn how humble Koreans perceive "work," an action part of the real economy. As a result, top-down fraud (a phenomenon of enjoying fraud and trickery from leadership to the general public) was prevalent in Korean society.
Right-wing politicians and elders in Korea want to pursue the Korean economy like the U.S. economy, but it is time to think of the status of the Korean economy as an independent variable, not as a dependent variable of ideology and the U.S. economy. To take a broader view, the flow of American economics seems to be at a crossroads of change due to the emergence of reformists such as Professor Paul Krueman.
Some say Professor Paul Krugman is a leftist economist. But that's not right. Such a phenomenon occurs because, like Korea, the U.S. is leading the issue of pure economic development to ideological debate. I read a lot of books by Professor Jang Ha-joon and Professor Paul Krueman, but not because they are left-wing economists, but because they are forward-looking. And through economics, we can also find clues to induce North Korea's socialist economy to a capitalist economy.
The national economy is accompanied by the propensity of politicians. If a politician has a far-left, far-right, or fundamentalist tendency, the country's economy should be considered to have entered a period of decline. Biased thinking inhibits intelligence that can overcome the current difficulty and come up with future-oriented improvement measures. Soviet communism and Japan's far-rightism were the same, and these days, China and South Korea seem to be on the path of collapse as their ideological concentration in economic methods increases. First of all, when discussing ideological problems in discussing economic problems, it should be said that the solution has crossed the sea.
There is a country that has succeeded by crossing the sea in a different way. This is the case in England, which made people all over the world study English during busy times. Britain, which defeated Spain's invincible fleet and took over the sea, took the whole world as an economic stage, and the real economy developed at that time created the financial economy together. However, as Britain's real economy, which had been growing through colonialism and World War II, stopped growing, the financial economy alone unfortunately made a difficult situation. Prime Minister Thatcher blamed this phenomenon on the lazy people through an adolescent boy named Adrian Moall and came up with Thatcherism (neoliberal ideas), but the British economy is still small because it has not grasped the situation. - But I am still thirsty to study English because of America
Around the time of the British disease, which is a side effect of welfare, a book called [Secret Diary], featuring an adolescent boy named Adrian Moall in England, was a bestseller. In this book, Adrian Moall's father went on public work without a certain job, and his neighbor was receiving welfare benefits and recommending drugs to Moall. Adrian Moall became an old man as his mother went out with another man and his father went out with another woman. While reading this book, Thatcher reportedly shed tears. And Thatcher understood the problems of British welfare and began to cultivate helpless people, and the solution that came out is Thatcherism.
However, it is also questionable why all Britons have to pay for Adrian Moall's family's adults being a mess. And political leaders should have been in the field and in the lives of ordinary people.
Professor Jang Ha-joon clearly states in his recent book EDIBLE ECONOMICS that the financial economy depends entirely on the real economy.
Until now, the Korean economy has been an imitation economy that mimics developed countries and a dependent variable of developed countries or external economies, so it did not matter whether political leaders have lived in the common people's lives, or studied economics, geography, or world history. However, as the status of the Korean economy increases, it seems to be a great ordeal for a narrow-minded and ideological leader. Of course, the damage is up to the people.
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