Open AccessPublic Enterprise and Economic Development: The Korean Case. By Leroy P. Jones. Seoul (Korea): Korea Development Institute. 1975. xiii+293 pp.
Author(s) -
Aftab Ahmad Cheema
Publication year - 1976
Publication title -
pakistan development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.154
H-Index - 26
ISSN - 0030-9729
DOI - 10.30541/v15i4pp.458-460
Subject(s) - ideology , framing (construction) , public sector , public enterprise , government (linguistics) , political science , welfare , economics , economy , political economy , development economics , economic history , public administration , politics , law , history , linguistics , philosophy , archaeology
While framing policies for economic development the publicauthorities-are by and large consciously or unconsciously motivated bytheir ideological convictions. In a capitalist economy, for instance,the government does not normally resort to socialist techniques even ifthose techniques promote social welfare. But this general rule, likemany others, is not without exception. The book under review gives aclear example of such an exception. Public enterprise, though considereda necessary evil (p. 129), is shown to have per¬formed remarkably wellin South Korea. During the short period of ten years-(1968-1972), theperformance of the public sector in South Korea has been not only farbetter than in many other countries but the sector has also emerged as-aleading sector of the economy (p. 202).