Tag Archives: Cantillon Effect

A quick look at economic conditions in the post-Kim Il Sung era

It has been 20 years since the death of Kim Il-sung and North Korea is still reeling from the consequences of his economic mishandling. However, many North Koreans appear to have fond memories of the Kim Il-sung era, perhaps because … Continue reading

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Eating boots, dreaming of pork: food security and the budget deficit in 2014

The lean months are coming to the DPRK. From May through August, North Korean farms will be sowing and growing key crops like rice, maize, and soybean while consuming what remains of the harvest from last fall. Although winter and … Continue reading

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After Jang Sung-taek: Can North Korea brave the economic tempest?

We may not find out why Jang Sung-taek was so dramatically purged from the upper echelons of power last December until both the regime and the DPRK are safely contained within the pages of history books (or tablets, who knows … Continue reading

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Is there or Is there not reform in the DPRK? And some recommendations

Andrei Lankov is upbeat. He believes reforms are really underway in North Korea with agricultural yields to prove it. But don’t pop the champagne yet because Dr. Lankov is also wary of how the reforms will not go far enough … Continue reading

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Assessing Cause and Effect: Food price stability and the Korean People’s Won

Despite turbulence in the upper echelons of political power in Pyongyang, rice prices in North Korea proved remarkably stable at the end of 2013. This may be due to favorable farming conditions and the resulting increase in grain output that … Continue reading

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Food situation overview, December 2013

News outlets are buzzing with reports that Jang Sung-taek, Kim Jong-un’s uncle and a prominent figure during the power transition in 2011-12, has been removed from power. Although not fully verified, some sources are suggesting that Jang was removed due … Continue reading

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Brief Footnote: Cantillon Effect in 1955

In August 2012, I argued in an article on Asia Times Online that the concentration of capital in Pyongyang was distorting prices in the country With the country’s wealth largely concentrated in the capital and most of the resources from … Continue reading

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