Extreme ideology and existential political economy.

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As the Korean economy stabilizes and thrives, the shadow of the "far right" or "far left" is disappearing, but the Middle East is not. Not long ago in Iran, hard-line conservative religious leader Raishi was elected president. Without oil, politics and the economy in the Middle East would have inherently unstable conditions. Middle Eastern politics seems to constantly want a leader with extreme integration because of the poor natural environment of desert areas.

 

French author and philosopher Jean Paul Sartre (1905 – 1980) says there is no predetermined universal way of life.

 

I have felt this while driving buses in various neighborhood areas for a long time, saying that the more developed communities, the more reasonable complaints occur, but complaints are affected by the health, age, and standard of living of complaints in areas where they are not developed. However, even unreasonable complaints in underdeveloped areas have some basis (sometimes more intense) and can easily be reflected in bus transport policies. In other words, there is a phenomenon in which provocative and unreasonable complaints are first reflected in transportation policy, which is the same as Grassham's law.

 

The reason why politics in countries with harsh conditions are not stable is because of constant stimulating feedback. If politics and the economy are unstable, demagogues get votes. The demagogue leaps to 90 per cent on the basis of 10 per cent. It is to induce the public to be stimulated in the face of a difficult environment. Religion is often used as a good tool to stimulate the public.

 

Come to think of it, Korea's political world, which is becoming moderate and stable as the ideological paradigm turns into an economic paradigm, seems to be a case of rare success in East Asia, which has similar conditions to the Middle East.

 

It is necessary to refer to Professor Paul Krugman's comments when it comes to economic issues.

 

Confounding the skeptics, capitalism did survive; but although today’s free-market enthusiasts may find this proposition hard to accept, that survival was basically on the terms Keynes suggested. World War 2 provided the jump start Keynes had been urging for years; but what restored faith in free markets was not just the recovery from the Depression but the assurance that microeconomic intervention-cutting interest rates or increasing budget deficits to fight recessions-could keep a free-market economy more or less stable at more or less full employment. In effect, capitalism and its economics made a deal with the public; it will be okay to have free markets from now on. because we know enough to prevent any more Great Depressions.

 

- [THE RETURN OF DEPRESSION ECONOMICS] BY PAUL KRUGMAN -