CANCELLED! Globalization and Crisis in Korean Economy: Marxian Perspective

Guest lecture by the famous South Korean Marxist economist, Prof. Jeong Seongjin. It is a part of East Asia Lunch Seminar lecture series.

Professor Jeong Seongjin.

Foto: Jeong Seongjin.


This talk explores the relationship between globalization and crisis in the recent Korean economy.

  • First, the relation between globalization and crisis is explained by applying Marxian crisis theory.
  • Second, the main indicators of the globalization in Korea after the 1990s are summarized.
  • Third, the relation between globalization and crisis in the Korean economy is empirically analyzed, focusing on two recent crises, i.e., East Asian Crisis of 1997 crisis and Global Financial Crisis of 2008. 

Globalization: Not a panacea

The globalization is found to be one of the main forces to counteract the crisis caused by the falling rate of profit in Korea, implying that Post-Keynesian regulation of the globalization, like financial repression, could not be the effective policy to cope with the crisis. 

However, recent difficulties in the Korean economy, such as low growth and polarization, also provide evidence that the globalization is far from being a panacea for the crisis tendencies inherent to capitalism. 

About Professor Jeong Seongjin

  • Jeong Seongjin is Professor of Economics and faculty of Department of Political Economy at Gyeongsang National University in Korea.
  • He is the founding Editor of Marxism 21, a quarterly journal on Marxism.
  • His research interests include Marxian political economy, socialism, and Korean capitalism.
  • He authored books, such as Marx and the Korean Economy (Chaekgalpi, 2005), Marx and Trotsky (Hanul, 2006) and Marx and the World Economy (Hanul, 2015), and edited Marxist Perspectives on South Korea in the Global Economy (with Martin Hart-Landsberg and Richard Westra, Routledge, 2016), Varieties of Alternative Economic Systems: Practical Utopias for an Age of Global Crisis and Austerity (with Richard Westra and Robert Albritton, Routledge, 2017), and Return of Marxian Macro-Dynamics in East Asia (with Masao Ishikura and Minqi Li, Emerald, 2017) etc.
  • Some of his articles were published in Review of Radical Political Economics, Rethinking Marxism, Historical Materialism and Journal of Contemporary Asia.
  • He is currently leading an international research project on ‘Postcapitalism and the Innovation of Marxism’.

Open event and free entrance.


Vladimir Tikhonov

Published Jan. 27, 2020 2:41 PM - Last modified Feb. 12, 2020 9:56 AM