This book explores the growing disconnect between financing and wealth creation — and the troubling separation of entrepreneurship from productivity. In today’s unregulated, financialised global economy, the pursuit of riskless returns by the wealthy has led to the systematic erosion of the real economy. Organised special interests, wielding political power, have reshaped financial systems to protect and expand their accumulated wealth.
Neo-liberal ideology has permeated banking and finance, transforming the original purpose of lending — to support productive investment — into a mechanism for capturing collateral and securing assets. Financialization has facilitated the risk-averse tendencies of plutocrats, but at a steep cost: the suppression of real economic activity and the decline of general prosperity.
This book provides an insightful analysis of Korea’s remarkable economic growth, tracing its development from one of the poorest countries in the 1960s to a global high-tech leader. It explores the role of trade, R&D, and technology, with implications for developing countries.
