Freeman

IN BRIEF

North Korean Farmers May be Given Ownership Over Surplus Crops

SEPTEMBER 24, 2012 by CHUCK GRIMMETT

“North Korean farmers who have long been required to turn most of their crops over to the state may now be allowed to keep their surplus food to sell or barter in what could be the most significant economic change enacted by young leader Kim Jong Un since he came to power nine months ago.

The proposed directive appears aimed at boosting productivity at collective farms that have struggled for decades to provide for the country’s 24 million people. By giving farmers such an incentive to grow more food, North Korea could be starting down the same path as China when it first began experimenting with a market-based economy.” (Washington Post)

North Korea still has a long way to go, but this may open the door to more liberalization.

FEE Timely Classics

China’s Free Enterprise Experiment by Donald J. Senese

The Economics of Property Rights by Andrew P. Morriss

Chuck Grimmett August 2013

ABOUT

CHUCK GRIMMETT

Chuck Grimmett is a project manager at eResources. Previously, he was FEE's director of web media. Get in touch with him on Twitter: @cagrimmett.

comments powered by Disqus

EMAIL UPDATES

* indicates required

CURRENT ISSUE

November 2014

It's been 40 years since F. A. Hayek received his Nobel Prize. His insights, particularly on the distribution of knowledge and the impossibility of economic planning, remain hugely important today. In this issue, we look back on the influence of his work. Max Borders and Craig Biddle debate whether liberty must be defended from one absolute foundation, further reflections on Scottish secession, and how technology is already changing our world for the better--including how robots, despite the unease they cause, will only accelerate this process.
Download Free PDF

PAST ISSUES

SUBSCRIBE

RENEW YOUR SUBSCRIPTION