Can Korea Save the Global Economy? – FPIF

John Feffer – Foreign Policy In Focus.

Growth associated with innovation would not likely create a lot of jobs or spread its benefits widely, at least judging by what has happened over the last decade or so in Silicon Valley. There is another more radical option. South Korea can reinvent itself. It can redefine growth away from reliance on such statistics as GDP and instead link prosperity to environmental sustainability, income equality, cultural expression, community health, and individual freedom. It could stress well-being, a concept that already has wide currency in Korean culture.

This would not be an easy transformation. The chaebols would have to redefine their mission. The government would have to take its foot off the gas pedal. And Koreans would have to retire the ppali-ppali spirit.

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