Democracy That Revitalizes the Economy

The inequality and dehumanizing social relations produced by the market must be controlled through democratic oversight of the market. In this way, when the market and democracy are harmonized, both the market economy can prosper and democracy can develop healthily. From the text

Democracy That Revitalizes the Economy, the first monograph by the New Vision for Democracy Team (led by Jang Hoon, Director of the EAI Center for Governance Studies), has been published as EAI Policy Research Series Vol. 6.

About a decade ago, around the time democratization began, we expected that democratization would not only lead to the normalization of politics but also drive the advancement of the market economy. However, the past ten years have been a lost decade in terms of economic advancement. This book originates from the recognition that a new political order and a model for the state are needed to contribute to the advancement and revitalization of the market economy within the framework of democracy.

Table of Contents

Part I Strengthening the Capacity of Democratic Government

Introduction

A New Vision for Korean Democracy Towards Economic Advancement | Jang Hoon and Jeong Jin-young

Chapter 1 The Korean Economy at a Crossroads: What is the Problem? | Na Sung-lin

Chapter 2 Government Capacity in the Era of Competitive States | Lee Hong-kyu and Kim Byung-kook

Chapter 3 The Political Economy of Competitive States: Reforms in Institutional Ideology and Action for an Integrated and Stratified Political Economy | Jang Hoon

Part II Building Cooperative Relationships

Chapter 4 Economic Advancement and State-Chaebol Relations: Competitive States and Globally Competitive Chaebol | Kim Eun-mi

Chapter 5 Economic Advancement and Labor-Management Relations | Lee Jong-hoon

Chapter 6 The Competitive Welfare State: Job Security and Competitiveness | Song Ho-geun

Chapter 7 Media and the Economy in Competitive States | Yoon Young-chul

Part III Public Consciousness Matters

Chapter 8 Economic Advancement and Public Consciousness | Lee Nae-young

Chapter 9 Economic Advancement and Civil Society: Exploring the Relationship Between Government and Civil Society for Economic Advancement | Kim Eui-young

Chapter 10 Economic Advancement and the Trading State: Democracy, Market Opening, and Economic Efficiency | Jeong Jin-young

Authors (In alphabetical order)

Kim Byung-kook (金炳局)

Graduated from the Department of Economics, Seoul National University, and received a Ph.D. in Political Science from Harvard University. Served as a member of the Presidential Advisory Council on Policy Planning. Served as Ralph I. Straus Visiting Professor at Harvard University's Kennedy School. Currently a professor in the Department of Political Science and International Relations at Korea University and Director of EAI. Co-editor of the Journal of East Asian Studies. Major works include "Dynamics of Division and Revolution," "State, Region, and International System: Change and Permanence," Consolidating Democracy in South Korea, and Between Compliance and Conflict: East Asia, Latin America, and the "New" Pax Americana (co-edited).

Kim Eun-mi (金恩美)

Graduated from the Department of Sociology, Ewha Womans University, and received a Master's and Ph.D. in Sociology from Brown University. Served as an associate professor at the University of Southern California. Currently Dean and Professor at the Graduate School of International Studies, Ewha Womans University. Major works include "Sociology of Economic Crisis: Transition of the Developmental State and Corporate Networks," "South Korea-Japan FTA and the Challenges Faced by Large Corporations," Big Business, Strong State: Collusion and Conflict in South Korean Development 1960-1990, The Four Asian Tigers: Economic Development and the Global Political Economy, "Contradictions and Limits of a Developmental State: With Illustrations from the South Korean Case," and "Globalization of the South Korean Chaebol."

Kim Eui-young (金義英)

Graduated from the Department of Political Science, Seoul National University, and received a Ph.D. in Political Science from the University of Michigan. Served as a visiting research fellow at the Sejong Institute and a visiting research fellow at the Institute for Far Eastern Studies, Kyungnam University. Currently a professor in the Department of Political Science and International Relations and a professor in the Graduate School of NGO Studies at Kyung Hee University, and Standing Director of the Korean Association of NGO Studies. Major papers include "Relaxation of Entry Barriers: A Case Study of Regulatory Reform for Business Associations" (co-edited), "Internet Governance: The Politics of Domain Name System Management," and "A Preliminary Study on Associational Democracy."

Na Sung-lin (羅城麟)

Graduated from the Department of Philosophy and the Department of Economics, Seoul National University, received a Master's in Economics from the University of Essex, UK, and a Ph.D. in Economics from the University of Oxford, UK. Served as visiting associate professor at the University of Washington, visiting research fellow at the Korea Institute of Public Finance, member of the Tax Development Committee of the Ministry of Finance and Economy, advisory member for the budget of the Ministry of Planning and Budget, consultant for the World Bank, and guest columnist for Dong-A Ilbo, JoongAng Ilbo, and Maeil Business Newspaper. Served as President of the Korean Economic Association of Public Finance. Currently a professor in the Department of Finance and Economics at Hanyang University. Major works include "Public Economics," "Poverty Theory," "Transitional Problems in Optimal Tax Theory," and "Measuring the Income Redistribution Effects of Tax and Social Assistance Policies Using Population Stratification."

Song Ho-geun (宋虎根)

Graduated from the Department of Sociology, Seoul National University, and received a Ph.D. in Sociology from Harvard University. Served as associate professor in the Department of Sociology at Hallym University, research director of the Korean Sociological Association, visiting professor at Stanford University, director of the Seoul National University Research Institute for Social Development, and editorial board member of Korea Journal, and advisory professor to the Board of Audit and Inspection. Currently a professor in the Department of Sociology at Seoul National University. Major works include "What Future Should Korea Choose?", "What is Happening in Korea?", "Globalization and the Welfare State," "Doctors Also Had Something to Say," "The Era of Politics Without Politics," "Market and Welfare Politics," and "Open Market, Closed Politics."

Yoon Young-chul (尹榮喆)

Graduated from the Department of Communication, Yonsei University, received a Master's in Sociology from the State University of New York at Albany, and a Ph.D. in Journalism from the University of Minnesota. Served as professor in the Department of Journalism and Broadcasting at Kangwon National University and visiting professor at the University of Wisconsin-Madison. Currently a professor in the Department of Communication, Yonsei University, and Director of the Yonsei Communication Research Center. Major works include "South Korean Democracy and the Media," "Changes in Korean Society and the Media" (co-edited), "Dominant Power and Institutional Media" (translated), "Broadcasting Policy and the Crisis of Democracy," "PC Communication as an Alternative Medium," and "Media Management of International Conflict."

Lee Nae-young (李來榮)

Graduated from the Department of Political Science and International Relations, Korea University, and received a Ph.D. in Political Science from the University of Wisconsin-Madison. Served as a research fellow at the Sejong Institute and a professor at the Graduate School of International Studies, Kyung Hee University. Currently a professor in the Department of Political Science and International Relations at Korea University and Director of the EAI Center for Public Opinion Analysis. Major works include "Democratization and Transitional Justice in East Asia" (co-authored), "Evaluation of the 2002 Presidential Election of Roh Moo-hyun and Tasks for the Roh Moo-hyun Administration" (co-authored), "World Order in Transition and the Korean Peninsula" (co-edited), "Anti-American Sentiment and the ROK-US Alliance," "Generations and Political Ideology," "Changing South Korean Public Opinion on the US," and "A Comparative Study of Regionalism in East Asia and the Americas."

Lee Jong-hoon (李宗勳)

Graduated from the Department of Economics, Seoul National University, and received a Ph.D. in Labor Relations from Cornell University. Served as a research fellow at the Korea Development Institute (KDI). Currently a professor in the Department of Business Administration at Myongji University. Major works include "Employment and Human Resource Development in Korea," "Research on the Introduction and Implementation Plan for Training Vouchers and Training Cards," "Key Issues and Policy Responses in Public Enterprise Labor Relations," "Economic Effects of Wage Subsidies and Desirable System Design" (co-authored), "Measures to Improve the Efficiency of Personnel Expense Budgets," "Measures to Improve Wage Systems for Enhancing Wage Flexibility," and "Determinants of Wage Premiums."

Lee Hong-kyu (李弘圭)

Graduated from the Department of Political Science, Seoul National University, received an MBA from the University of Oregon, and a Ph.D. in Business Administration from Hankuk University of Foreign Studies. Served as Director General of the Ministry of Commerce, Industry and Energy, Commercial Attaché to France, and Head of the Department of Business Administration at Korea University of Technology and Education. Currently a professor in the Department of Business Administration at Korea University of Technology and Education. Major works include "Conditions for Presidential Success" (co-authored), "Knowledge Inversion and Changes in Corporate Organization," "A Study on the Impact of Ownership and Capital Structure on Firm Value," "Comparative Study on Rational Settlement Methods Between Telephone Networks and IP Phone Networks," and "Virtual Enterprise: Redefining the Concept."

Jang Hoon (張勳)

Graduated from the Department of Political Science, Seoul National University, and received a Ph.D. in Political Science from Northwestern University. Served as assistant professor in the Department of Political Science and International Relations at Hallym University and publication director of the Korean Political Science Association. Currently a professor in the Department of Political Science and International Relations at Chung-Ang University and Director of the EAI Center for Governance Studies. Major papers include "The 1997 Presidential Election in South Korea," "The Origins of Instability in the Korean Presidential System," and "Party Politics in the Decade of Democratization."

Jeong Jin-young (鄭璡永)

Graduated from the Department of Political Science, Seoul National University, and received a Ph.D. in Political Science from the University of Illinois. Served as a researcher at the Korea Development Institute and a researcher at the Sejong Institute. Currently a professor in the School of International Studies at Kyung Hee University. Major works include "The Political Economy of Market Opening, Structural Adjustment, and Social Compensation: The Case of Korean Trade Politics," "Globalization, Regionalization, and Korea's Response: Beyond the Developmental State and Mercantilist Models," and "The Financial Crisis and the Future of East Asian Development: Focusing on Debates Surrounding Development Models, Structural Adjustment, and Regional Cooperation."

For the convenience of our readers, parts of the manuscript are made available.