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  Polarization of the Korean Economy: Some Empirical Evidences



An Analysis of Determinants of Profit Rate in the Korean Manufacturing Industries

In this paper, I use the Marxian conception of profit rates to analyse how Korean manufacturing industries have risen in profitability since the 1997 financial crisis. I explore the determinants of profit rate based on the panel dataset containing 19 years of data on 18 Korean manufacturing industries. I tests the effect of technical progress, globalization and the bargaining power of labor and capital on the profit rate in the period from 1991-2009. The main empirical results are as follows. (1) technical changes measured by the autonomous capital-labor ratio increase have a negative effect on the profit rate. This finding is consistent with the Marx-biased technical changes hypothesis, which is that the increase of the capital-labor ratio, driven by cost-reduction oriented innovation, has a negative effect on the profit rate. (2) Market openness measured by the value of import as a ratio to value-added production is found to have a negative impact. (3) Globalization of production measured by inward-FDI and outward-FDI as a ratio to total domestic fixed capital is found to have a positive impact on the profit rate. (4) Union density is found to have a statistically significant negative effect.
( Hong, Jang-Pyo)

The Polarization of Education Spending in Korea, 1990-2012
The purpose of this paper is to analyze the polarization of education spending in Korea during the period from 1990-2012. It suggests that the polarization of education in Korea has been reproduced extensively between generations. The main findings of this paper are as follows. First, the gap between the income quintile consuming education has increased continuously during 1990-2012 by up to 7.0 times. The quintile scale of the private educational institute was 7.5 times higher than the lowest quintile in 2012. Second, it was 3-5 quintile that leads to an increase in private education consumption during the last 22 years. The higher the income, the higher private education was consumed compared to regular education consumption. Third, education spending in Korea was part of a highly asymmetric, extremely polarized structure. The polarization of education deepens and reproduces social polarization. Fourth, households of college graduates have shown consistently high levels of education consumption despite economic crises. Standard deviation of education consumption patterns by income interval, income quintile, and levels of education was greater in order. Also the slope of the education consumption patterns was same. In other words, income variables are crucial variables that explain the polarization of education spending in Korea.
(Hyeja Kim)

The EUs Response to the Economic Crisis and the Deepening Integration of Neoliberal Europe
The EUs response to the economic crisis was not the consequence of a pre-existing design. The structure of the EU, and its lack of regulating mechanism for internal imbalances, involves great internal contradictions and makes solving them hard. Economic crises are also periods of divergence for the conjunctural reconfiguration of social forces. Neoliberal powers in the EU make use of existing crises to change existing power relations and push forward the postponed neoliberal restructuring of the whole EU. As the ECB emerges as a critical actor for crisis management, significant parts of member state sovereignty are being transferred to the ECB, which is given uncontrolled power of neoliberal integration for the EU. What is important for the EU is not to overcome an existing crisis itself, but to find appropriate direction after the crisis
(Seung-Wook Baek)

Grundeinkommen und Gender Gerechtigkeit
In diesem Artikel geht es um die Erforschung der institutionellen Bedingungen der Gender Gerechtigkeit, die anschliessend an die Einfuhrung des Grundeinkommens die gleiche Chance der freien Entwicklung fur beide Gender befordern. Dafur erforscht dierser Artikel zuerst die Grundeinkommenstheorie von Van Parijs kritisch, die zur Zeit die meisten feminitischen Grundeinkommenstheorie beeinflusst. Danach erforscht dieser Artikel die feministischen Grundeinkommenstheorien, besonders die von Pateman und Frazer. Schliesslich versucht dieser Artikel die Vor- und Nachteile der obenerwahnten Theoretiker in ein gerechtes und rationelles gesellschaftliches Reproduktionsmodell zu integrieren.
(Kwon, Jeong-Im)

Violence and Theologico-Political Problems in Spinoza and Derrida
Derrida and Spinoza agree that the worst violence comes from the project to eliminate the least violence, that is factual and inevitable. This article aims at revealing some differences between two philosophers, to understand the implications of the deconstructionist theologico-political thesis of Derrida by the help of spinozist perspective. The French philosopher argues for the deconstructability of the law, showing the antinomy immanent in the law between factual violence and normativity. Justice, which is undeconstructable but makes all laws deconstructable, is named afterwards as a theological term: the messianic without messianism. This singular theology tries to eliminate the anthropological remainders in W. Benjamin, G. Bataille and M. Heidegger. This means it postulates as moral basis a God which is the strangest and most incomprehensible for the human beings, and which makes it possible to deconstruct all human ethico-political rules. Anti-humanist Spinoza subverts traditional theology in an opposite way. He establishes anti-humanist theology by insisting on the immanence, not transcendance, of God as well as Its integral comprehensibility. This new way opens up a politics that affirms the equality of intelligence, which Spinoza propose as a basis for political subjectivation.
(Park, Ki-Soon)

Information Rent and the Labor Theory of Value: Reply to the Critique of Heesang Jeon
This paper answers the questions raised by Jeon (2013) regarding "the eclectic view" on the value of information goods. First, I summarise the common elements and differences between "the intensification view" and "" the eclectic view to clarify the problem between two views. I conclude that Jeon (2013) cannot understand the importance of the concept of differential rent (DR), which uses Marx's value theory, in explaining the value of information goods. To explain the high profits of information goods, I demonstrate DR and cognitive rent using Foleys (1986) simple diagrams. From this review, I show that the eclectic view has more merits to understand the special case of the high profits of information goods. In addition, Marx's concepts of value theory, consistently demonstrated from Capital I through Capital III, are used in this explanation, which improves the practical strength of Marx's value theory.
(HyeonHyo Ahn)

A Book Review of The Montage of Memory : The way we remember and represent time
In The Montage of Memory, Rieu reflects on how representation, and the representation of representation works. To do so, he writes a novel based on his past experiences and analyses it using the theories of representation that he supports. We are apt to believe that there are some fixed experiences as a basis of our memory and that we just represent those experiences passively. But thats not the way we reflect. On the contrary we choose or exclude some specific elements, and we emphasize or conceal certain facts, according to our class interests, preferences, emotions, desires, etc. Thus it is inevitable for us to edit and distort things in the process of representing memory, and therefore representation will never be perfect. In spite of this, he does not conclude that all representations of memories are just the subjective and untrustworthy results of editing. Rather, he stresses the danger and tyranny of the oppressive power of general truths to exclude other alternatives. In his philosophy of representation there are some theoretical ambiguities. It does not offer us clear answers to some questions, for example, on what basis and with what criterion can we judge some representations trustworthy and cogent? or how can we find common grounds for collectively meaningful practices in many different, sometimes even mutually conflicting representations? But he seems to try to find the clue for solving these problems in the materialist bases of representations and the intercrossing and interplay of those multiple representations.
(Ha, Jooyoung)

The Case for and against the Theory of Cognitive Capitalism
This paper examines the achievements and limitations of the theory of cognitive capitalism (CC) from the perspective ofthe Marxian labor theory of value. CC's value theory is evaluated with regard to the concept of cognitive labor, the thesis of the "becoming-rent of profit" and the concept of rent.CC theory tries to provide a better understanding of modern capitalism by highlighting cognition as a novel element of production, and therefore, a rationale for the modern welfare state. However, it tends to overemphasize the novel phenomenon with regard to the concept of cognitive labor and the source of value. As a result, it risks abdicating the problem of value and exploitation, which is an essential characteristic of all stages and varieties of the capitalist mode of production.
(Hyeon-Hyo Ahn & Dong-Min Rieu)

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