Summary
FLASHES OF SPECULATION However, excitement about the opening of markets, price reforms, monetisation of the economy, the introduction of new performance criteria for businesses and externally oriented economic activities, such as the Mount Geumgang tourism project, or the Gaeseong Special Industrial Zone, now seems to be making room again for a return of gloomy predictions just because Kim Jong-il has dared not to privatise the whole economy, demobilise the army and step down. During the last decade, conditions have changed substantially if judged by the standards of North Koreans, but this was a mere drop in the bucket for those who regard a liberal market economy, plus democracy, as the end of history.
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Extract
Big Wheel Turning
iN 1915, WILFRED TROTTER PUBLISHED HIS BOOK Instincts of the Herd in Peace and War that became a classic in the field of social psychology. It refers to the strange phenomenon that individuals often act in concert but without coordination and much sense, merely following their peers out of fear of being left behind by the group.
Such behavi...See the full content of this document
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