Comments on: Prof. Yi Hŏnch’ang (이헌창) and his “Outline of Korean Economic History”

By: kotaji 거타지 :: From the frontlines :: July :: 2006

kotaji 거타지 :: From the frontlines :: July :: 2006 — Wed, 12 Jul 2006 22:50:25 +0000

[...] If you want to read Jamie in more analytical frame of mind check out his piece on Korean Neo-liberalism and Empire at ZNet. There is another eye-witness report here, while over at Frog in a Well, Pak Noja posted some thoughts on the economics of Korean agriculture and what liberalisation means for Korean farmers. [...]

By: noja

noja — Wed, 12 Jul 2006 15:23:12 +0000

Well, in my understanding what you are saying is exactly the main trap in the whole capitalist system – the short-term market efficiency prevails over long-term ecological (and ultimately economical) concerns. Today, around 60% of kimch’i sold here in Korea, is being produced in China and shipped from there to here – which is profitable under the present oil/fuel prices, but may become less profitable when the oil will cost more than 100 $ per barrel in 4-5 years. And then we will have to invest huge money in rebuilding the production of cabbage, harlic and other stuffs, which is rapidly declining today. “Invisible hand” is pretty wasteful, isn’t it?

By: Owen

Owen — Wed, 12 Jul 2006 13:33:11 +0000

I use this book quite a lot for reference purposes but I admit that I've never got past the premodern part. From what you say about it perhaps I should make the effort to read the whole thing. In general I like Prof. Yi Hŏnch’ang's approach to economic history a lot. Readers can find his homepage here, where there are links to many of his papers, including this one in English. On the subject of import dependency, I was quite surprised to learn that in the UK the percentage is only around 31% (I wonder if this is actually an underestimate or old figure though). In any case, I think one of the most important aspects of this is the relationship of import dependency to peak oil. The increasing distances over which food is being transported from source to consumer are just not sustainable (quite apart from the massive oil imputs required in the production stage of large-scale agro-industry - fertilisers, pesticides etc). There's a good article on this subject here.

By: lirelou

lirelou — Wed, 12 Jul 2006 02:22:48 +0000

Good post. However economically successful Korea may be, and however faint the danger of a war might seem to those in the government, that threat is dangerous enough to warrant maintaining a certain level of agriculture even if it results in higher costs to the consumer. We are, after all, dealing with costs that present consumers can bear. A more responsible government would establish a base line of agricultural production below which Korea cannot be allowed to fall, and do everything in its power to see that their policies keep such a minimum in place.