Financialization or Capitalization? Debating Capitalist Power in South Korea in the Context of Neoliberal Globalization

Financialization or Capitalization? Debating Capitalist Power in South Korea in the Context of Neoliberal Globalization
Park, Hyeng-Joon and Doucette, Jamie. (2016). Capital & Class. OnlineFirst. September. pp. 1-22. (Article - Journal; English).

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Alternative Locations

http://www.capitalaspower.com/2016/10/park-and-doucette-financialization-or-capitalization-debating-capitalist-power-in-south-korea-in-the-context-of-neoliberal-globalization/

Abstract or Brief Description

The article reviews debates concerning financialization in South Korea, with a focus on ongoing arguments between liberal, post-Keynesian, institutionalist and Marxist economists. It argues that post-Keynesian and institutionalist perspectives in particular neglect important class processes through which the financial circuit operates within the Korean economy, especially the power of Korea’s large, family-led conglomerates, or chaebol. In order to build upon Marxist approaches to Korean finance, we argue that Nitzen and Bichler’s approach to the ‘capitalization’ of capitalist class power provides a useful heuristic for understanding the differential power of Korean chaebol and their integration into global capital.

Language

English

Publication Type

Article - Journal

Additional Information

OnlineFirst

Keywords

capital as power chaebol developmental state financialization institutional political economy Marxian economics post-Keynesian economics South Korea

Subject

BN International & Global
BN Labour
BN Money & Finance
BN Power
BN Policy
BN Region - Asia
BN Resistance
BN Agency
BN State & Government
BN Value & Price
BN Capital & Accumulation
BN Class
BN Comparative
BN Conflict & Violence
BN Crisis
BN Distribution
BN Growth
BN Institutions

Depositing User

Jonathan Nitzan

Date Deposited

20 Oct 2016 18:52

Last Modified

26 Oct 2016 14:02

URL:

https://bnarchives.net/id/eprint/491

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