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Agriculture in Taiwan and South Korea

In: US Economic Development Policies towards the Pacific Rim

Author

Listed:
  • Nan Wiegersma

    (Fitchburg State College)

  • Joseph E. Medley

    (University of Southern Maine)

Abstract

US economic and political policies and interventions supported materially beneficial development in Taiwan and South Korea. They were intended to serve as models of noncommunist, politically stable and economically successful societies operating with freemarket institutions within the US sphere of influence. The generalization of their actual experience as a model of foreign-assisted, state-led development would, if replicated currently, be quite costly: politically, socially and economically. The following chapter will show that the actual model East Asian countries followed contrasts with the ‘free-market’ model that is currently touted by the US and international agencies. The East Asian model involves high direct costs associated with significant changes in class relations and extensive economic aid as well as high indirect costs associated with providing access to developed country (especially US) markets. In the geopolitical context of post-WWII East Asia, the US was willing and able to pay these costs to demonstrate the superiority of freemarket institutions within the sphere of US influence.

Suggested Citation

  • Nan Wiegersma & Joseph E. Medley, 2000. "Agriculture in Taiwan and South Korea," Palgrave Macmillan Books, in: US Economic Development Policies towards the Pacific Rim, chapter 3, pages 35-49, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-333-98386-7_3
    DOI: 10.1057/9780333983867_3
    as

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