Getting entrepreneurial in Korea (Summer School)
Summary
Planet Money explores South Korea’s economic rise with economist Oliver Kim, highlighting how land reform and export discipline fueled growth. The episode traces the "flying geese" model, showing how textile manufacturing know-how transferred from Korea to Bangladesh. It contrasts this with North Korea, where state-sanctioned entrepreneurship funds the nuclear program rather than broad prosperity. Finally, Kim advises that US industrial policy must pair subsidies with global competition to ensure competitiveness.
Topics discussed
Intro: Planet Money Summer Tour and South Korea's rise
East Asian Tigers: Education, land reform, and equality
Export discipline: Forcing firms to compete globally
Case Study: How Korea helped build Bangladesh's textile industry
The Industrial Ladder and the 'Flying Geese' model
North Korea: The rise of the 'Donju' entrepreneurs
State tolerance of markets and funding for weapons
Jessie's story: Smuggling, escape, and recent revenue
Lessons from North Korea vs. China and reunification
Conclusion: Key takeaways and final announcements
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