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South Korea: Pressurized Takeoff

In: Structural Inequality

Author

Listed:
  • Roger D. Norton

    (Texas A&M University)

Abstract

The narrative provides a sweeping view of South Korea’s economic and social evolution over the decades. It describes the Confucian era and its marked inequality of landowning later erased by historic land reform. It paints pictures of village life when South Korea was still poor. The author worked with Korean economists on a model to project growth possibilities for economic takeoff. The radical policy experimentation of those times is described. A return to a village shows the astonishing economic transformation made. The fact that Korean policy flexibility would no longer be permitted to a poor country by international agreements is underscored.

Suggested Citation

  • Roger D. Norton, 2022. "South Korea: Pressurized Takeoff," Springer Books, in: Structural Inequality, chapter 0, pages 255-292, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-08633-5_8
    DOI: 10.1007/978-3-031-08633-5_8
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    Keywords

    Yi Dynasty; Confucian era; Early Seoul; Jung Mong-ju; Hermit Kingdom; Korean War; Land reform; Japanese rule in Korea; Entrepreneurial class; Korean village; Transplanting rice; Paper floors; Korean dress; Closed ecosystem; Family planning; Fate; Korean economic planning; Economic growth model; Korean Second Five-Year Plan; Savings circles; Inverse interest rate margin; Unorthodox economic policies; Export incentives; Commitment capitalism; Model equations; Mini-computer; Abacus calculations; Industrial survey; Sampling frame; “go” game; Street demonstrations; Kimchi making; Korean schooling; Tutoring children; Household finance; Savings groups; Korean women’s roles; Korean history; Tangun; Admiral Toyotomi Hideyoshi; Admiral Yi Sun Shin; Ironclad ships; Harvest festival; Ancestor worship; Dried squid; Buddhism; Korean language; King Sejong; Drawing a circle; Tearooms; Sexist attitudes; Social change; Korean house; Korean neighborhood; North Korea; DMZ; Gyeongbok Palace; Blue House; Confucian vision; Jiri-san; Korean national park; Living National Treasure; Traditional drum; Buddhist temple; Hermit; Village improvements; Rural income growth; Agricultural extension; Rice prices; Effective government; New Village Movement; Policy flexibility; Korean economic growth; Modern Seoul; Policy incentives; Unemployment; Modern inequality; Leadership; Innovative economic policy; Educated population; Chaebol; Korean small business; Competitive society; Suicide rate; Social benefits; Meaning of development; World economic policy environment; Creative policies; Export growth; Exchange rates; IMF conditions;
    All these keywords.

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