Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/157800
Authors: 
Park, Hyeng-Joon
Doucette, Jamie
Year of Publication: 
2016
Citation: 
[Journal:] Capital & Class [Volume:] 40 [Issue:] 3 [Pages:] 533-554
Abstract: 
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.
Subjects: 
capital as power
chaebol
developmental state
financialization
institutional political economy
Marxian economics
post-Keynesian economics
South Korea
Persistent Identifier of the first edition: 
URL of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by-nc-nd/4.0/
Document Type: 
Article

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