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Saturday, September 30, 2006

The Korean Experiment

When Korea was partitioned into North and South in 1945, the people were "the most homogenous people on earth" per a letter writer to Jay Nordlinger at NRO. The writer then explained:

At the time of partition through about 1960, I’d say, the economy of the North was more developed than that of the South. The North had a smaller population, but one that was arguably better educated than the South’s. The North had more industry, too. During the 1950s, the South was absolutely destitute, and survived on food donations from the United States.

Thus, in 1945, an “experiment of nature” was carried out.

Take a small, homogeneous country and divide it arbitrarily more or less in half. Then install one kind of government in the north and another kind in the south. Close the curtain. See what happens.The results speak for themselves, don’t they?

For you who do not know, the North has run a socialist economy with nationalized industry and no economic entrepreneurship. The South has run a relative free market economy. The South has a major growing industrial economy with while the North is an economic basket case. The South ranks 33 in per capita Gross National Product internationally. There is no ranking for North Korea though the Asian Economic News reports " it is generally thought that per-capita income in the North is about one-10th of that of the South."

So the same people were split into 2 teams and began a race with one beating out the other by miles. The comparative strengths of the 2 economic systems are proven by the Korean example. And socialism is a beneficial system? Only is you think poverty should be the norm for all.

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