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

Artikel

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.

Objekt anzeigen

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Capital & Class ; Volume: 40 ; Year: 2016 ; Issue: 3 ; Pages: 533-554 ; Toronto: The Bichler and Nitzan Archives

Klassifikation und Themen

• Klassifikation: Wirtschaft
• Thema: capital as power ; chaebol ; developmental state ; financialization ; institutional political economy ; Marxian economics ; post-Keynesian economics ; South Korea

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Park, Hyeng-Joon ; Doucette, Jamie
• Ereignis: Veröffentlichung
• (wer): The Bichler and Nitzan Archives ; ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
• (wo): Toronto
• (wann): 2016

Weitere Informationen

• DOI: doi:10.1177/0309816816667425
• Handle: http://hdl.handle.net/10419/157800