[Jean Pisani-Ferry] Is Europe worth the effort?

When the United Kingdom joined the then-European Economic Community in 1973, it was at the rearguard of European integration. The question raised by the U.K.’s upcoming referendum on continued European Union membership is whether Britain is now at the forefront of Europe’s disintegration.　The issue has little to do with the insignificant accord that Prime Minister David Cameron recently reached with his EU colleagues. Indeed, it is hard to believe that this agreement will determine Britain’s fat

March 3, 2016

[Kim Ji-hyun] In search of media independence　

Last year, the parents of my son’s friend at school began divorce proceedings. The father, who has Asperger’s syndrome, was not home most of the time and was abusive.　But not long after, the kid’s mother began to regret her decision. Her husband was vastly wealthy, but he refused to part with his riches. Lengthy lawsuits ensued. 　The woman eventually won custody rights, but lost everything else. We used to be close, but after she sold her car and moved away, we lost contact. 　The final time we m

March 2, 2016

[Kim Myong-sik] Surveillance hysteria under climate of security insensitivity

The apartment reconstruction boom in Seoul, both in the northern and southern parts of the capital city, is expected to go on for some time like a little sunny patch in the overcast Korean economy. Almost all apartment complexes built during or before the early 1980s are in the various stages of reconstruction, remodeling or renewal, aiming to raise the value of the properties. Blueprints invariably show towers of 30 to 40 stories or higher with smaller unit sizes, which are the current trend.Fo

March 2, 2016

[Lee Jae-min] A new chapter for currency disputes

It has been some time now since exchange rate became one of the touchiest trade issues. Practically speaking, few tools can be more tempting and effective than exchange rates in terms of artificially increasing export while suppressing import. Any gains from trade liberalization and market opening would evaporate instantly with an artificial adjustment of an exchange rate. According to the International Monetary Fund’s World Economic Outlook in October 2015, a 10 percent depreciation in currency

March 2, 2016

[Kim Seong-kon] Is Korea a pawn on the international chessboard?

Referring to the recent crisis on the Korean Peninsula, a Chinese newspaper compared Korea to pieces in a game of “baduk” (the board game also known as Go) between China and the United States. Reading the editorial, right-wing Koreans became furious, taking the remarks as an insolent affront to the dignity of Korea. On the contrary, left-wing Koreans took them as a cynical reminder that China and the States, not Korea, are the countries that can solve our problems. The Chinese editorial reminded

March 1, 2016

[Jahan Alamzad] Mumbai can learn a lot from Seoul

I landed in Seoul for the first time some years ago and spent a good portion of a year working with one of Korea’s largest industrial complexes, a chaebol.  I not only learned the business attributes of Korea, but I also experienced the culture of the country, its rich history, and the nation’s incredible people.I was astounded that Seoul had been rebuilt into one of the most prominent mega-cities in the world after it was turned to rubble just a couple of generations ago, beset by the Korean Wa

March 1, 2016

[Robert J. Fouser] “Hell Joseon” and political change

In 2015, the term “Hell Joseon” spread on social networking services and has now become the most common term to describe the current malaise that afflicts Korea. The term comes from Joseon, a name used to refer to the royal dynasty that ruled Korea from 1392 to 1910. During the Japanese colonial period, Korea continued to be called Joseon, and it is part of the official name for North Korea. The name suggests rigidity and oppression.　The source of “Hell Joseon” anger is the growing unease over t

March 1, 2016

[J. Bradford DeLong] Economy needs pragmatism, not ideology

It is almost impossible to assess the progress of the United States economy over the past four decades without feeling disappointed. From the perspective of the typical American, nearly one-third of the country’s productive potential has been thrown away on spending that adds nothing to real wealth or destroyed by the 2008 financial crisis.Since the mid-1970s, the U.S. has ramped up spending on health care administration by about 4 percent of gross domestic product and increased expenditure on o

March 1, 2016

[Ram Garikipati] Tackle illegal political funding for sustainable growth

With the general election in Korea just a couple months away, a recent report by the Organization for Economic Cooperation and Development appears to be timely. 　The report, “Financing Democracy,” takes a comparative approach to examining how the funding of political parties and election campaigns has evolved, and how regulations across OECD member and partner countries have been established.　From an economic standpoint, this is important because it shows how the politician-business nexus can ha

Feb. 29, 2016

[Chris Patten] The closing of the academic mind

I would wager that I have been Chancellor of more universities than anyone alive today. This is partly because when I was Governor of Hong Kong, I was made Chancellor of every university in the city. I protested that it would surely be better for the universities to choose their own constitutional heads. But the universities would not allow me to resign gracefully. So for five years I enjoyed the experience of giving tens of thousands of students their degrees and watching what this rite of pass

Feb. 29, 2016

[Robert B. Reich] The end of the establishment?

Step back from the campaign fray for just a moment and consider the enormity of what has already occurred.　A 74-year-old Jew from Vermont who describes himself as a democratic socialist, who was not even a Democrat until recently, came within a whisker of beating Hillary Clinton in the Iowa caucuses, routed her in the New Hampshire primary and garnered over 47 percent of Democratic caucus-goers in Nevada, of all places.　And a 69-year-old billionaire who has never held elective office or had anyt

Feb. 28, 2016

[Jeffrey Frankel] Who’s right on direction of U.S. financial reform? 　

Eight years after triggering a crisis that nearly brought down the global financial system, the United States remains plagued by confusion about what reforms are needed to prevent it from happening again. As Americans prepare to choose their next president, a better understanding of the policy changes that would minimize the risk of future crises -- and which politicians are most likely to implement them -- is urgently needed.　What Americans are sure about is that they are angry with the financi

Feb. 28, 2016