Non-Viable National Economies

In: Social Issues

Words 4612
Pages 19
Grace Lee 105

The Political Philosophy of Juche
Grace Lee
The political philosophy known as juche became the official autarkic state ideology of the
Democratic People’s Republic of Korea (DPRK) in 1972.1 Although foreign scholars often describe juche as “self-reliance,” the true meaning of the term is much more nuanced. Kim Il Sung explained: Establishing juche means, in a nutshell, being the master of revolution and reconstruction in one’s own country. This means holding fast to an independent position, rejecting dependence on others, using one’s own brains, believing in one’s own strength, displaying the revolutionary spirit of self-reliance, and thus solving one’s own problems for oneself on one’s own responsibility under all circumstances.
The DPRK claims that juche is Kim Il Sung’s creative application of Marxist-Leninist principles to the modern political realities in North Korea.2
Kim Il Sung and his son Kim Jong Il have successfully wielded the juche idea as a political shibboleth to evoke a fiercely nationalistic drive for North Korean independence and to justify policies of self-reliance and self-denial in the face of famine and economic stagnation in North
Korea. Kim Il Sung envisioned three specific applications of juche philosophy: political and ideological independence, especially from the
Soviet Union and China; economic self-reliance

and self-sufficiency; and a viable national defense system.3 This paper begins with a discussion of the three key components of the juche ideology – political, economic and military independence – as promulgated by the DPRK. The second section is a discussion of the ideological origins of the juche philosophy, followed by a third section on the philosophical bases of the juche idea. The paper concludes with an examination of juche as a political body of thought and an evaluation of the success with…...

Similar Documents

Structure and Performance of National Economies and the Policies That Governments Use to Try to Affect Economic Performance: China

...INTRODUCTION The objective of this mini project is the study the structure and performance of national economies and the policies that governments use to try to affect economic performance. Important topics in this mini project include the determinants of long-run economic growth, unemployment, inflation, and macroeconomic policy. In addition, this mini project are also able us to know the measurement of the standard living of a country in term of productivity, efficiency and effectiveness. Besides that, we are also able to determine what is measured by Gross Domestic Product, Inflation and etc as well as know how the government policy could contribute to improved productivity of the country. The picture below shows the brief idea how does Indonesia looks like. Picture 1: Tourism in Indonesia’s island Picture 2: Place to travel in Indonesia Picture 3: City in Indonesia Picture 4: Map of Indonesia Choose one country of the world The chosen country was Indonesia. The reason of Indonesia been chosen because Indonesia is given public an image that Indonesia is a lag behind country than other since there was a tragic event happened in Indonesia in the middle of 1997 all along. This causing Indonesian suffered a great deal and many of them have experienced a very large decline in their living standard. It was irony in Indonesia’s case seen a......

Words: 8104 - Pages: 33

Afghan Economy

...24 Mar 2012 Afghanistan’s Economy This paper is to explain the past, current and future economy of Afghanistan. As of 2011, Afghanistan has a population of roughly 30 million and is expected to increase to around 82 million people by the year 2050. Afghanistan is the 41st largest country in the world, and is similar in size to the state of Texas. Ranked 91st in world economies it has very high unemployment, nearly 35% countrywide. According to data from the Central Intelligence Agency, nearly 42% of Afghanistan’s population lives on less than $1 a day and almost 35% of the population lives below the poverty line. Gross Domestic Product (GDP) per capita is a trifling $900, and is mainly due to the fact that 78% of the workforce is agricultural in nature. Only 5.7% of Afghans work in industries like mining and textiles, and another 15.7% of the Afghani work force are in the service industry. But to truly understand the Afghani people and their nation’s future economic endeavors, we must understand their past economy. In the 1930’s Afghanistan began a momentous undertaking of instituting new monetary methods unto their nation such as introducing paper money, created numerous facilities for general and higher education, and established a national bank. Unfortunately until roughly the 1950’s, Afghanistan lacked much of the necessary national infrastructure such as roads and railways to support an expansion in their industrial sectors. This factor locked......

Words: 1191 - Pages: 5

Macroeconomics: the Study of Our National Economy

...Macroeconomics: The Study of Our National Economy Macroeconomics: The study of Our National Economy “Our new economic approach is rooted in ideas which stress the importance of macro-economics, post neo-classical endogenous growth theory and the symbiotic relationships between growth and investment, and people and infrastructure”. (Brown) As we have seen here in the past few years, but more so in the last year, the economy is ever changing. Macroeconomics is the backbone of America and without a stable economy we have serious hurdles in front of us to overcome. John Maynard Keynes developed the Keynesian Theory, which has become the foundation of our government’s economic decisions. During the course of this paper I will outline Keynesian Theorists and Monetary Theorists approach to promote long-run macroeconomic stability, the impact of persistent budget deficits on the trade deficit, options available to policy makers when national savings presents opportunity to improve the trade deficit, appraise the position of the supply side as it relates to government deficits and evaluate recent national economic policies as they relate to the magnitude of the trade deficit. In essence, the inner workings and use of macroeconomics as a financial tool of study to determine how a national economy is managed and sustained. To begin, Keynesian theorists approach to promote long-run macroeconomic stability is somewhat unique. Economist who......

Words: 1208 - Pages: 5

The Gross National Product (Gnp) Is Commonly Used as a Measure of the Performance of the Economy. Discuss the Advantages and Disadvantages of Using It to Measure the Economy of Kenya

...The Gross National Product (GNP) is commonly used as a measure of the performance of the economy. Discuss the advantages and disadvantages of using it to measure the economy of Kenya The Gross National Product (GNP) is the total value of all final goods and services produced within a nation in a particular year, plus income earned by its citizens including income of those located abroad. It does not include income of non-residents located in that country. Therefore, GNP measures the value of goods and services that the country's citizens produced regardless of their location. GNP is one measure of the economic condition of a country, under the assumption that a higher GNP leads to a higher quality of living, all other things being equal. But this notion has been challenged in recent years given the failure of the traditional measures of countries’ economic health to take into account non-monetary and informal nature of the economies, especially in the developing world. This paper looks at the advantages and the disadvantages of using the GNP to measure the health of the Kenya economy. The advantages of using GNP to measure the economy of Kenya are that GNP is not subjective so you can evaluate Kenya’s economic performance scientifically and without bias. It is easier to measure than other things- such as output per worker which would be a nightmare to collate for all the different jobs in an economy. GNP is universal. You can use it to examine all......

Words: 883 - Pages: 4

A Study on the Growth of Emerging Economies and Their National Income Distribution

...phenomenon. During these years, the real Gross Domestic Product (GDP) growth of the world (annual percent change - A% c) averages 3,83. It is worth mentioning that the above referenced countries reached 6,01 (157,02% more); and Advanced Economies - not yet recovered since the last financial crisis - reached 1,6 (47,78%). Meanwhile, different measuring models have found that in the world, just the top 20% of the population controls over 70% of the global revenue. These economies have been growing as well. The importance of this investigation is answering the questions: Are they reversing this lack of equality trend? And, Would be relevant to add equity in the development agenda?. This paper offers an analysis of these points and studies them as a strategy for sustainability and continuous growth. Key words: BRICS countries growth; National income distribution; Equity in the development agenda. 1. Introduction BRICS Countries are leading the growth of the economy in the world, and have done so for over 10 years. The International Monetary Fund (IMF) projected that from 2013 to 2017 it will maintain its growth at least 26% above World Growth GDP. Note: GDP, will be the measure utilized in this paper when referring to growing economies. This information comes from the IMF data base and calculations made by the author. Income distribution refers to how a nation’s total GDP is distributed among its population (Sullivan and Sheffrin, 2003). This distribution is......

Words: 2695 - Pages: 11

Topic: Equilibrium and Non- Equilibrium Sector in Bangladesh Economy.

...projections of continued 6% GDP growth show the resilience of Bangladesh’s economy in weathering these short-term challenges. • A series of garment industry accidents including the death of 1,127 workers in the collapse of Rana Plaza in April 2013 have highlighted the urgent need for Bangladesh to improve worker rights and develop durable mechanisms for ensuring workplace safety in order to preserve and expand its existing markets. • Economic weaknesses include an undeveloped and undercapitalized financial sector, an inefficient and chronically loss-making public sector, and a decision adverse bureaucracy that often resists measures to improve the investment climate. • While Bangladesh made some progress in reducing corruption during the last decade, corruption is still widely perceived to be endemic at all levels of society. Bangladesh fell to 144th out of 176 countries in Transparency International's 2012 Corruption Perception Index after ranking 120th among 183 countries in2011. • Shortages of land, gas and power are also major impediments to investment. Bangladesh’s long-term energy security could benefit from rapid and efficient extraction of domestic coal reserves. Five good quality coal deposits, with proven reserves of more than 2.5bn MT have been discovered in Bangladesh. COUNTRY FACT SHEET: BANGLADESH: PROFILE Population in 2011 (Millions): 148 Capital: Dhaka Government: Republic ECONOMY 2009- 2010- 2011: Nominal GDP (Current Billions $U.S.) 94.9......

Words: 996 - Pages: 4

Non Viable National Economy

...Characteristics of LDCs Exports of Primary Goods: The primary and agricultural products are the main exports of these countries. The international trade. For example the main exports products of Pakistan are rice, cotton yarn, fish and garments etc. Capital Deficiency: The deficiency of capital in an important feature of developing countries. Therefore they are often called capital poor economies. The shortage of capital is reflected in the very low capital labour ratio in these countries. Over Dependence on Agriculture: 68% population in Pakistan is living in 46,894 villages, back-ward agriculture is the major occupation of the population. Agriculture sector is back ward due to old and traditional methods of cultivation. In-efficient farmers, tack of credit facilities, unorganized agriculture market etc. 66.7% population is directly or indirectly depending on agriculture sector in Pakistan. Natural Resources: Mostly there is shortage of natural resources in developing nations and this is also a cause of their economic backwardness. In various poor countries natural resources are available but they remain un- utilized under-utilized and miss- utilized due to capital shortage, less efficiency of labour, lack of skill and knowledge and limited home market. Out Flow of Best Brain: The brilliant and brightest students of developing countries go to developed countries for higher education. After completing their education, they do not want to come back in their own country due......

Words: 1171 - Pages: 5

As Truly Global Economies Emerge Distinct National Economies Are Increasingly Irrelevant

...Faheem, Dost & Abdullah 2011, p. 293). The increasing irrelevance of national borders, including social, economic, cultural and technological borders, is one of the fundamental characteristics of the incident of globalization. Innovative technologies such as the Internet have facilitated the dismantling of national boundaries. As a consequence, the world is rapidly turning into one massive village; not only in political terms, but economic terms as well (Kemeny 2011, p. 17). At present, global exchanges and interactions continue to be the order of the day. All areas of society, including the economic aspects, are constantly being reshaped by the process of globalization as forces that outweigh and transcend national borders exert their influence. The rate of global change is quite rapid today; consequently, the emergence of global economies makes national economies, as well as strategies geared towards national economic management, irrelevant or entirely obsolete. Economic globalization has resulted in the proliferation of global economies, which surmount the powers held by national economies to influence economic occurrences within their national borders. Fundamentally, national economies are interdependent as they depend on the cross-border movement of capital, technology, and goods and services to facilitate growth and intensification (Giddens 2000, p. 157). In essence, the establishment of global economies is geared towards obliteration of deterrents to global......

Words: 790 - Pages: 4

National Economy

...Version 1         General Certificate of Education (A-level) January 2013         Economics   ECON2   (Specification 2140)       Unit 2: The National Economy                                     Final                         Mark Scheme             Mark schemes are prepared by the Principal Examiner and considered, together with the relevant questions, by a panel of subject teachers. This mark scheme includes any amendments made at the standardisation events which all examiners participate in and is the scheme which was used by them in this examination. The standardisation process ensures that the mark scheme covers the candidates’ responses to questions and that every examiner understands and applies it in the same correct way. As preparation for standardisation each examiner analyses a number of candidates’ scripts: alternative answers not already covered by the mark scheme are discussed and legislated for. If, after the standardisation process, examiners encounter unusual answers which have not been raised they are required to refer these to the Principal Examiner.   It must be stressed that a mark scheme is a working document, in many cases further developed and expanded on the basis of candidates’ reactions to a particular paper. Assumptions about future mark schemes on the basis of one year’s document should be avoided; whilst the guiding principles of assessment remain constant, details will change, depending...

Words: 6784 - Pages: 28


...Issues and Problems Faced by Non Profit Organizations: Funding for Non Profit Organizations “Funding for Non-Profit Organizations” Introduction In general, non-profit organizations conduct business activities and actually raise revenues but their surplus funds are not distributed to owners or shareholders. They operate with the help of some staff who are, although paid salaries, do not earn as much as those who are employed in business corporations that operate for profit. There are also volunteers who provide manpower, skills and talents but are usually paid minimally or get no payment at all. As such, non-profit organizations are exempted from income and property taxation. While businesses and corporations are a source of funding, volunteerism renders the necessary fuel to keep non-profit organizations moving. By and large, non-profit organizations operate relying heavily on volunteer workers and generating funds through the assistance of business benefactors and foundations as well as through fund-raising activities. The number of people or staff that they maintain varies according to the size of the organization, but one thing that can be said about most of them is that they are generally understaffed primarily because of limited funds. DISCUSSION There are many existing international, national and local non-profit organizations. One common thread about them is that they exist for a cause,......

Words: 2004 - Pages: 9

The Economics of Amartya Sen “Social Choice and Welfare Economics” (Npwes, 2008) and as Related to Philippine Economy: National Budget Cycle

...related to Philippine Economy: National Budget Cycle In Partial Fulfillment of the Requirements for the Degree Bachelor of Science in Hotel and Restaurant By: Binalingbing, Jhan Ray N. February 2014 INTRODUCTION “…a budget is a useful tool to help ensure that what limited money is available will be spent for the family’s most important needs, like food, clothing and shelter.” -Florencio Abad Secretary, Department of Budget and Management Every household knows that their budget is indispensable, important and has the capability to turn and mobilize their life around. Every day, millions of Filipinos work just for a meager share to eat, drink, and live, and tomorrow, work again to live for a day. Yet reality, tells us that many still suffer and live in difficult conditions. The National Statistics Coordination Board (NCSB) reported that in 2012, 4.2 million Filipino families experienced or lived in poverty or that is 19.2% percent. The same report also stated that a family of five needed a budget of PhP 5,513 to meet basic food needs every month and Php 7,890 to stay above the poverty threshold (basic food and non-food needs) every month. Such can be attributed to the inflation rise to 4.1 % from the year 2009-2012. What could have caused this statistic to be constant and rise up even more? Is there lack in financial stewardship and accountability on the part of Filipinos? Or even greater, does this statistic reflect the financial situation of our national......

Words: 5675 - Pages: 23

Financial Crisis and the National Economy

...Financial Crisis and the National Economy PART A Initial balance sheet Liabilities | £m | Assets | £m | Risk Weighting | Risk Adjusted Assets (£m) | Deposits |   | Cash |   | | | Current accounts | 195 | Cash in Tills | 5 | (0%) | 0 | Time deposits | 94 | Money at call | 5 | (0%) | 0 |   |   |   |   |   | | Total Liabilities | 289 | Available for sale assets |   | |   |   | Gove' Bonds & Bills | 10 | (10%) | 1 |   |   | Other Bonds & Bills | 40 | (20%) | 8 | Equity |   |   |   |   | | Shareholder Capital | 13 | Other assets |   |   | | Retained Profits | 3 | Loans and Advances | 125 | (100%) | 125 |   |   | Mortgages | 120 | (50%) | 60 | Total Equity | 16 |   |   |   | |   |   |   |   |   | | Total Liabilities + Equity | 305 | Total Assets | 305 | Total Risk Adj’ | 194 | UK Liquidity Ratio | 3.5% | Leverage Ratio | 5.2% | Capital Ratio | 8.2% | Balance sheet after £6m write-down Liabilities | £m | Assets | £m | Risk Weighting | Risk Adjusted Assets (£m) | Deposits |   | Cash |   | | | Current accounts | 195 | Cash in Tills | 5 | (0%) | 0 | Time deposits | 94 | Money at call | 5 | (0%) | 0 |   |   |   |   |   | | Total Liabilities | 289 | Available for sale assets |   | |   |   | Gove' Bonds & Bills | 10 | (10%) | 1 |   |   | Other Bonds & Bills | 40 | (20%) | 8 | Equity |   |   |   |   | | Shareholder Capital | 7 | Other assets |   |   | | Retained Profits | 3 | Loans and Advances |...

Words: 2635 - Pages: 11

National Differences in Political Economy

... National Differences in Political Economy By: Roberta Gandy National University November 30, 2014 There are many differences between business in the United States and other countries with the way the political, economic and legal systems are setup. Cultural practices have an influence with the growth of business to include the size of the population, education and the skills learned and practiced for business. Cost, risks, and benefits will help international businesses decide if they want to do business in other countries. The two differences in communist and democratic political systems have a big difference to how some organizations could run and can affect the business even more. I will focus on the political economy which talks about the political, economic and legal systems in the forefront for discussion. Poland grew 1.5% during the 2008-09 financial crisis while others contracted. 1989 Poland became a democracy after four decades of communist rule. 2004 Poland joined European Union giving access to the large consumer markets. Poland embraced market-based economic policies and exports 40% GDP making it a major exporter. Poland kept public debt in check by not allowing it to expand, like other countries did, during a recession. Poland achieved investor confidence and was able to prevent large outflow of funds during economic turmoil. Other countries had their investor pull money out of these economies causing......

Words: 2716 - Pages: 11

National Differences in Political Economy

...Chapter 02 National Differences in Political Economy   True / False Questions   1. A country's political economy and culture are independent of each other.  True    False   2. It is not possible to have democratic societies that emphasize a mix of collectivism and individualism.  True    False   3. The communists believed that socialism could be achieved by democratic means, and turned their backs on violent revolution and dictatorship.  True    False   4. In an individualist society, the welfare of society is best served by letting people pursue their own economic self-interest.  True    False   5. The central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.  True    False   6. There is a global trend of societies shifting from individualism toward collectivism.  True    False   7. It is possible to have a democratic state where collective values predominate.  True    False   8. It is possible to have a totalitarian state that is hostile to collectivism and where some degree of individualism is encouraged.  True    False   9. The most practical form of democracy is direct democracy.  True    False   10. Most modern democratic states practice representative democracy.  True    False   11. In a market economy, if demand for a product exceeds supply, prices will rise, signaling to producers to produce......

Words: 2950 - Pages: 12

The National Economies of the World

...THE NATIONAL ECONOMIES OF THE WORLD. 1. To improve our understanding of international business and trade, we must first look at the global picture, that is the national economies, or countries. 2. There are approximately 200 countries, or economies in the world, of varying sizes and positions. 3. Students are encouraged to study the world map to understand these economies better. 4. We look at national economies on two aspects first, population size, and economic size (GDP). 5. The world population is about 7 billion people, and the largest countries in terms of population are China and India (billion club), followed by the hundred millions club, like the USA, Japan et cetera, then the rest of the countries. 6. Students need to look at the list of the countries by population and memorize some of these figures (approximation). For example, the USA has a population of 320 million, Japan 127 million, Indonesia about 200 million, Singapore about 5 to 6 million people. These figures are important for us to understand IBM. 7. Another aspect to look at is economic size. The world economy is worth about USD 72 trillion, and students may look at the top 10 largest economies in the world since they play a big role in IBT (International Business and Trade). 8. The largest economy is the USA with USD17 trillion, followed by China (USD 9 trillion), Japan etc. 9. We may also look at regions, and the three most significant regions, called the Triad, is North America, Western......

Words: 578 - Pages: 3