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Liberalism in Korea

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  • Young Back Choi
  • Yong J. Yoon

Abstract

We describe the place of classical liberalism in Korea’s past and present. Korea first glimpsed classical liberalism in the mid-18th century, and liberalism experienced a resurgence there in the late 20th century. But Korea’s history has been mostly bereft of liberalism, even after the country became democratic and economically productive. Its history began with rigid social stratification undergirded by the Confucian ideology; that was followed by failed attempts to reform and a period of colonization by Japan. Korea was liberated from Japan’s control at the end of WWII, but divided into North and South. A liberal democracy was formed in South Korea in the face of communist threats, followed by a period of authoritarian rule, then a transition to democracy, and then finally some awakening of classical liberalism. Classical liberal economists still constitute a small minority of the Korean economic profession, but they have been active in educating the public and have achieved a degree of success.

Suggested Citation

  • Young Back Choi & Yong J. Yoon, 2016. "Liberalism in Korea," Econ Journal Watch, Econ Journal Watch, vol. 13(1), pages 100–128-1, January.
    • Handle: RePEc:ejw:journl:v:13:y:2016:i:1:p:100-128
    as

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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    liberalism; authoritarianism; imperialism; democracy; free market economics; Marxism; North Korea; South Korea; welfare state;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • N45 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Asia including Middle East
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • P0 - Political Economy and Comparative Economic Systems - - General

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