This chapter suggests that both the pro-market and the pro-government views are flawed especially when it comes to understanding and explaining Korea’s economy, its challenges, achievements and woes. Despite the recent renewed interest in the economic policies of Park Chung Hee, a consistent understanding of the mechanisms of Korea’s economic development is largely absent in the literature. The book essentially fills this gap by interpreting the Korean economy by the author’s General Theory of Economic Development (GTED).
KeywordsKorean economic development Park Chung Hee Pro-market view Pro-government view
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