The Past, Present, and Future of North Korean Economy: An In-depth Study on the North Korean Constitution’s Economic Clauses and the Economic Reality
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During the founding of the two Koreas in 1948, the nations of South and North Korea diverged politically. The former adopted a liberal democratic political system, while its northern counterpart adopted a communist political system. Despite this dichotomy, each nation’s Constitutions contained clauses that made provisions for similar economic systems, although their later implementations would look dramatically different. From the mid-1990s, with the exception of Pyongyang and a few privileged classes, the distribution system began to collapse in North Korea. As a result, in the last 20 years, a people-powered internal market economy has emerged. Although North Korea’s central power is maintaining a strong, unprecedented successive dictatorship, as long as widespread marketization and privatization are practiced among the people, even amidst government oppression, change in North Korea is simply a matter of time.
Abstract
During the founding of the two Koreas in 1948, the nations of South and North Korea diverged politically. The former adopted a liberal democratic political system, while its northern counterpart adopted a communist political system. Despite this dichotomy, each nation’s Constitutions contained clauses that made provisions for similar economic systems, although their later implementations would look dramatically different. From the mid-1990s, with the exception of Pyongyang and a few privileged classes, the distribution system began to collapse in North Korea. As a result, in the last 20 years, a people-powered internal market economy has emerged. Although North Korea’s central power is maintaining a strong, unprecedented successive dictatorship, as long as widespread marketization and privatization are practiced among the people, even amidst government oppression, change in North Korea is simply a matter of time.
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