The Political Economy of Korea : Transition, Transformation and Turnaround

Korea's twin transitions – agrarian to industrial and industrial to post-industrial – effectively transformed the country's political economy. Moving away from the traditional focus on aspects such as market, state and world systems, culture, and colonialism, the author argues that Korea's so-called 'second state' was revitalized through the 'people's movement' and the more recent 'citizens movement'. The 'second state' provided incremental pressure to subvert the agrarian equilibrium of a previous era dominated by the Yangban aristocracy as well as the industrial equilibrium enforced by large business conglomerates. This book is an attempt to acknowledge the sacrifices made by the Korean people to enlarge the basis of Korean capitalism, bringing the wider society into its framework. "Cover" -- "Half-Title" -- "Title" -- "Copyright" -- "Dedication" -- "Contents" -- "List of Tables" -- "Preface and Acknowledgments" -- "Note on Romanization" -- "List of Acronyms and Abbreviations" -- "Part I Transition in Perspective" -- "1 Perspectives, Arguments and the Structure" -- "1.1 Introduction" -- "1.2 Perceptions and perspectives on the Korean political economy" -- "1.2.1 Market perspective" -- "1.2.2 â#x80;#x98;Statistâ#x80;#x99; and â#x80;#x98;World Systemâ#x80;#x99; perspective" -- "1.2.2.1 Close cooperation between state and the private sector" -- "1.2.2.2 Governed markets" -- "1.2.3 Cultural perspective" -- "1.2.4 Colonial perspective" -- "1.2.5 Bringing the â#x80;#x98;Second Stateâ#x80;#x99; perspective" -- "1.3 Ideas and arguments in the book" -- "1.4 Structure and organization" -- "Part II Locating Twin Transitions" -- "2 Situating Koreaâ#x80;#x99;s Political Economy under Twin Transitions" -- "2.1 Koreaâ#x80;#x99;s first transition from agrarian to industrial era" -- "2.1.1 Egalitarian political economy through â#x80;#x98;land reformsâ#x80;#x99;" -- "2.1.2 Formation of the â#x80;#x98;political capitalistâ#x80;#x99; under Rheeâ#x80;#x99;s autocratic rule" -- "2.1.3 â#x80;#x98;Developmental Stateâ#x80;#x99;, Chaebol and Koreaâ#x80;#x99;s industrialization drive" -- "2.1.4 Koreaâ#x80;#x99;s â#x80;#x98;Cold War passageâ#x80;#x99; to a global market space" -- "2.1.5 Developmental contradictions and paradoxes" -- "2.2 Koreaâ#x80;#x99;s second transition, from an industrial to a post-industrial era" -- "2.2.1 From â#x80;#x98;developmentalâ#x80;#x99; to â#x80;#x98;post-developmental stateâ#x80;#x99;" -- "2.2.2 Reforming the Chaebol system" -- "2.2.3 Structural reforms in the financial system" -- "2.2.4 Recasting of Korean capitalism" -- "2.3 Conclusion" -- "Part III First Transition: Agrarian Aristocracy and Its Discontents" -- "3 Yangban-centered Agrarian Aristocracy and Its Social Discontents, 1700â#x80;#x93;1910" -- "3.1 Late-Joseon era political economy" -- "3.1.1 Inward orientation: Korea as the â#x80;#x98;Hermit Kingdomâ#x80;#x99;" "Korea's twin transitions--agrarian to industrial and industrial to post-industrial--effectively transformed the country's political economy. Moving away from the traditional focus on aspects such as market, state and world systems, culture, and colonialism, the author argues that Korea's so-called 'second state' was revitalized through the 'people's movement' and the more recent 'citizens movement'. The 'second state' provided incremental pressure to subvert the agrarian equilibrium of a previous era dominated by the Yangban aristocracy as well as the industrial equilibrium enforced by large business conglomerates. This book is an attempt to acknowledge the sacrifices made by the Korean people to enlarge the basis of Korean capitalism, bringing the wider society into its framework"-- Provided by publisher 2.2 Korea's second transition, from an industrial to a post-industrial era2.2.1 From 'developmental' to 'post-developmental state'; 2.2.2 Reforming the Chaebol system; 2.2.3 Structural reforms in the financial system; 2.2.4 Recasting of Korean capitalism; 2.3 Conclusion; Part III First Transition: Agrarian Aristocracy and Its Discontents; 3 Yangban-centered Agrarian Aristocracy and Its Social Discontents, 1700-1910; 3.1 Late-Joseon era political economy; 3.1.1 Inward orientation: Korea as the 'Hermit Kingdom'; 3.1.2 Parasitical elite, the Yangban Class; 3.2 Social response to foreign pressure 4.6 Colonialism and political-economic status quo in Korea4.7 Conclusion; 5 U.S. Intervention, War and the Assertion of the 'Second State, ' 1945-60; 5.1 Surrender, occupation and the formation of the Korean People's Republic; 5.2 Politics of people's resentment and state repression; 5.3 Inter-Korean War and the politics of reconstruction; 5.4 Decimation of the Left, restoration of the Right; 5.5 Land reform as counter measure to Communism; 5.6 U.S. aid, Rhee administration and the rise of the rent-seeking capitalist class; 5.7 April 1960 Revolution and the end of the Rhee regime 3.2.1 'Practical Learning'3.2.2 Donghak Peasant Revolution, 1860; 3.2.2.1 Minjung, Donghak and the sources of indigenous egalitarianism; 3.2.3 Gabo Reform, 1894-6; 3.3 Conclusion; 4 Continuation of Status Quo under Colonial Economic Drain, 1910-45; 4.1 The nature and structure of the Japanese colonial state in Korea; 4.2 'Commerce-industry' as a new source of national power; 4.3 Consolidation of 'large' and the marginalization of 'small' farmers; 4.4 Colonialism and the question of Korean identity; 4.5 People's struggle for national independence: March First 1919 Movement 5.8 Shattering of the Yangban-dominated traditional order