North Kore The World Of A Nation 's Economy Essay

North Kore The World Of A Nation 's Economy Essay

Length: 2005 words (5.7 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

North Korea is the world’s 114th largest economy, while South Korea is the 14th (The World Factbook). This difference is intriguing as they shared history, traditions, geography, and high poverty levels until the Korean War. After this, the nations took drastically different paths. What could explain such variation? Why have some nations experienced economic growth while others have not? The answer partially lies in the presence of economic institutions that are important to a market economy such as banks, property rights, and capital. But what are the political factors that lead to economic growth? There must be some other phenomena that causes these institutions to arise. To understand such large variation between states, we must evaluate the groups that make up a society, and even the way these group interactions affect the individual decisions that either boost or sink a state’s economy.
In order to analyze this behavior aggregate development of a nation’s economy, we will examine group interactions that make up a nation’s general behavior. Acemoglu and Robinson’s theory of inclusive political institutions is the most convincing in explaining economic growth. They note that specific economic institutions including banks, capital, and property rights must be present, an intervening variable. However, the creation of these is dependent on political institutions, so it is the driving factor. The introduction of this conditional variable makes Acemoglu and Robinson’s idea most progressive and politically salient, while continuing to explain the importance of specific economic factors.
To demonstrate that Why Nations Fail best explains economic growth for states, the problems with competing theories will be reviewed. The causal l...

... middle of paper ...

...d elections mattered less (Doner, Ritchie, and Slater 2005). This block of anomalies contradicts the other theories regarding instability. Therefore, neither explanation, either positive or negative, of instability’s effect on growth is convincing. Corruption and the lack thereof are the most important variables driving economic institutions.
Mauro’s study convincingly demonstrates that corruption limits the ability of a nation to develop using indices of honesty and efficiency. He finds that corruption in the society results in lower levels of investment and bureaucratic inefficiency, crippling a nation’s economy. Political corruption here contributes to lack of capital which is necessary to develop a nation’s economic abilities and induce growth (Mauro 1995). This is a convincing argument for why growth is restricted, but it fails to explain which factors cause it.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on North Kore An Example Of An Unreached People Group

- Introduction An unreached people group is one where less than two percent of the population are Evangelical Christians. The Joshua Project defines an unreached people group as “a people group among which there is no indigenous community of believing Christians with adequate numbers and resources to evangelize this people group without outside assistance.” The Koreans of North Korea are an example of an unreached people group. The North Korean people group is an interesting group because if it were not for them being one of the strictest governments in the world, the gospel may have already exploded in the area like it has in the same people group in South Korea....   [tags: South Korea, Korean language, North Korea, Korea]

Better Essays
1085 words (3.1 pages)

North Kore National Security Advisor Lens Essay

- North Korea through National Security Advisor Lens North Korea is a rogue state. A nation whose actions and behavior could set off a deadly regional conflict. A conflict which could involve the use of nuclear warheads. Since the end of the Korean War tensions have run high between the opposing sides. The biggest cause for concern for the U.S. and South Korea is North Korea’s continual test of nuclear weapons paired with its aggressive behavior towards its reginal neighbors. A miss calculation by North Korea during one of these tests could result in full blown conventional war in the region....   [tags: World War II, North Korea, Cold War, Korean War]

Better Essays
1359 words (3.9 pages)

North Kore The Korean War Essay

- Historically, the Korean War played a tremendous role in both North and South Korean societies. The Korean War was simply a victim of the rivalry between the Communism and the Capitalism. North Korea followed the communist beliefs, while the South Korea was backed up by the United States and its allies. The result of this war was deleterious, over 5 million people were killed from both sides. (Stueck, 1997). After experiencing a huge amount of loss both economically and socially, the Korean peninsula still remains divided....   [tags: World War II, North Korea, South Korea, Cold War]

Better Essays
1847 words (5.3 pages)

Book Review: Korea Old and New: A History by Carter J. Eckert Essay

- Book Review: Korea Old and New: A History by Carter J. Eckert The book I chose for this book review assignment is titled Korea Old and New: A History by author Carter J. Eckert along with other contributing authors Ki-baik Lee, Young Ick Lew, Michael Robinson and Edward W. Wagner. The book is published at Korea Institute, Harvard University in 1990. The book consists of 418 pages and it is more of a survey of Korean history and reference type of book, rather than selected readings on modern Korean politics....   [tags: Kore Book Review]

Better Essays
1147 words (3.3 pages)

North Kore A Country At The End Of World War Essay

- The country of North Korea is one of the most isolated nations in the world. North Korea began as a country at the end of World War II, when the Koreas split into North and South Korea. Kim Il-Sung came into power in 1948 until his death in 1994. He declared the formation of the Democratic People’s Republic of Korea, also declaring himself leader of North Korea. The Korean War began in 1950 because Kim Il-Sung tried to unify North and South Korea by using military methods. The Korean War ended three years later by signing an armistice....   [tags: North Korea, South Korea, Kim Il-sung, Korean War]

Better Essays
1495 words (4.3 pages)

Essay about North Kore We Have The Most Advantageous Human Rights System

- Park, Madison. "North Korea: We Have the “Most Advantageous Human Rights System”." CNN. Cable News Network, 15 Sept. 2014. Web. 22 July 2015. In the article here it is noted that North Korea conducted their own human rights report in response to the one done by the UN. The country found that it “bestows upon its citizens political integrity, ensures people an independent and creative working life, as well as affluent and living standard.” The report done by the North Koreans is over 50,000 words and they do not mention anything about prison camps, executions, or food shortages....   [tags: North Korea, Kim Jong-il, Kim Il-sung]

Better Essays
1585 words (4.5 pages)

Essay on North Kore A Theory Or System Of Social Organization

- Just how bad are pure socialist economies. North Korea is the most well known socialist nation. The government came to control all economic decisions in the country. Most of the country’s resources were sent to the military. The country also used its resources on developing a nuclear program. The military growth used up all of the country’s necessary resources. In the late 90s and early 2000s, the majority of the country was suffering from hunger and malnutrition because food was scarce. Millions ended up dead, and those who survived only did because of the aid from other countries (like South Korea and other capitalist countries)....   [tags: Capitalism, Socialism, Economic system, Economics]

Better Essays
1622 words (4.6 pages)

Essay about The Secret State Of North Korea

- No U.S. Interference Could you imagine being under a dictatorship for as long as 60 years, and counting. Can you imagine what it would be like to not have any human rights, or enough food to eat on a regular basis. Unfortunately, we live in a world where this can and has been occurring for quite some time. For a very long time, many of us had no clue as to what the state of North Korea was in after the North Korean War. The whereabouts of North Korea was unknown, until now that is. But as devastating as this is, the United States should not get involved in what is occurring in North Korea....   [tags: World War II, Korean War, North Korea]

Better Essays
1020 words (2.9 pages)

Essay Korean War : North Korea

- Since 1950, communism culture came into Democratic of North Korea. After the ceasefire of Korean War, between South and North Korea tried to make a good relationship to helping each other and trying not to have another severe war. But when the new dictator came everything changed to bad and worst. North Korea is acting like the un-controllable angry cat. The whole world is against North Korea because they want to occupy South Korea, they have nuclear weapons, and they have a totalities society. June 25, 1950, in the quiet early in the morning, North Korean attacked South Korea without any warning....   [tags: World War II, Cold War, South Korea, North Korea]

Better Essays
2520 words (7.2 pages)

Korean War : North Korea Essay

- June 25, 1950, in the quiet early in the morning, North Korea attacked South Korea without any warning. Most of South Korean Solders were on vacation including high commanders. South Korean started to losing the ground and retreat to the South. Later, South Korea fought against North Korea but it was too weak. In September 15, 1950, United States of America with other volunteer countries involved to help South Korea and ambush in North Korea boundary. North Korea ran away towards to China, and Soviet Union helped North Korea to fought back....   [tags: North Korea, South Korea, World War II, Cold War]

Better Essays
1453 words (4.2 pages)