Guns Versus Butter: The Ordeal Of North Korea Economy

Apply

Guns Versus Butter: The Ordeal Of North Korea Economy

Journal Title: International Journal of Humanities and Social Science Invention - Year 2018, Vol 7, Issue 11

Abstract

At its independence, North Korea adopted a principle of economic self-reliance. This is a doctrine which isolated the economy of the country from the global economy. With the support of the Soviet Union and other allies, the principle paid off for North Korea up until 1989. However, the demise of the Soviet Union in 1989 made North Korea to be left in the lurch. But rather than deregulate its economy and seek outside help, North Korea sticks to tightened economy with the government having a firm control on every sector of the country. Believing that it needs to further consolidate itself in power and secure the survival of the country, the leadership of the country opted out of Nuclear Non Proliferation Treaty (NPT) which it had earlier signed and began aggressive drive towards becoming a nuclear capability state- an action which has subjected the state to several sanctions that further isolate the state’s economy. This research discovered that both the idea of centrally controlled economy and the production and testing of nuclear weapons are implemented at the expense of the welfare of the state’s citizenry who are bearing the brunt. The paper suggests the deregulation of North Korea’s economy and the state compliance with the provision of the NPT in the interest of the citizenry who should be seen as an ‘end’ and not a‘means to an end’.The study adopts qualitative research method to gather and analyse data.

Authors and Affiliations

Popoola Michael Akintayo, OMODARA DEBORAH EBUNOLUWA

Keywords

Customer Perception on Post Purchase Services of life Insurance Companies

Any industry which is not responsive to the interestsof its customers cannot succeed and insuranceindustry is no exception to this principle. In life insurance, the interests of policyholders are supreme and have the lon...

Recommendations to Mitigate the Challenges in Cambridge Language Testing Centre that would Benefit Universidad de Guayaquil

This paper states that if the University of Guayaquil creates the effective LTC, it would add more value of the educational services. However, the language assessment techniques and teaching process may create obstacles...

EP ID EP416044
DOI -
Views 51
Downloads 0