Archive for Politics and Economics

The North Korean summit and deal – by Tyler Cowen – Marginal REVOLUTION

by  Tyler Cowen June 12, 2018 at 8:46 am in Current Affairs Political Science

“Many of you have asked what I think, so here goes:

1. There is a secret (and unenforceable) deal beneath what is reported.  You may think this is good or bad, but for heaven’s sake don’t just be judging the press release.

2. If they didn’t actually agree to anything, that is fine.

3. I am reading so much yelping about how Trump “legitimized” Kim.  The status quo ex ante simply was terrible, and there is no reason to think this change is for the worse.  Trump’s great “virtue” in this regard was simply to be some mix of ignorant/disrespectful of the prior “expert consensus” and approach the problem afresh with a rather direct transactional and person-centered, personality-centered mentality.

4. As I tweeted: “Isn’t the whole point of the “deal” just to make them go visit Singapore? The real spectacle is not always where you are looking. And I hope someone brought them to the right chili crab place.”

The goal is to show the North Korean leadership there is a better way than playing the Nuclear Hermit Kingdom game.  We won’t know for some time whether this has succeeded.  Here is good FT coverage on this point.  There are in fact numerous signs that the North Koreans are considering serious reforms.  Of course those could be a feint, but the probabilities are rising in a favorable direction.  Economic cooperation with South Korea is increasing at an astonishing pace.”

Source: The North Korean summit and deal – Marginal REVOLUTION

Posted in: Korea - North and South Korea, Politics and Economics

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