This study reinterprets the statecraft philosophy (Gyeongse-gwan) of Seoae Ryu Seong-ryong (1542-1607), a leading politician and pragmatic thinker of the mid-Joseon period, from an economic perspective, and explores its implications for modern socio-e...
This study reinterprets the statecraft philosophy (Gyeongse-gwan) of Seoae Ryu Seong-ryong (1542-1607), a leading politician and pragmatic thinker of the mid-Joseon period, from an economic perspective, and explores its implications for modern socio-economic policy. The research first examines the historical and ideological background in which Ryu's philosophy was formed and analyzes his practical policy principles centered on national recovery measures implemented during and after the Imjin War (1592-1598). In particular, his emphasis on stabilizing the livelihood economy through agriculture, reforming the taxation system for fairness, establishing market mechanisms, and implementing the Sumibeop (rice-collection tax system) represents a pragmatic application of Confucian governance that sought real solutions to economic challenges rather than idealistic moralism. Furthermore, by comparing Ryu's economic thought with Adam Smith's The Wealth of Nations, this study identifies both commonalities and differences between Eastern and Western economic philosophies. The analysis reveals that Ryu's statecraft philosophy embodies an early insight into the modern economic principle of balancing market autonomy and state intervention. His economic thought was rooted in practical objectives of stabilizing people's livelihoods and rebuilding the nation, while simultaneously pursuing economic efficiency and social justice. These findings suggest that Ryu's philosophy offers meaningful insights into contemporary issues such as tax equity, fiscal soundness, rural revitalization, and social integration. Therefore, his statecraft philosophy should be re-evaluated not merely as a historical reflection but as a practical policy framework capable of addressing present-day challenges including economic inequality, fiscal crises, and social cohesion. This study thus contributes to reinterpreting traditional Korean thought as a theoretical and practical foundation for sustainable public economics in the modern era.