Chojeong is a literary name of BAK Je-gha, one of distinguished Silhakjas(pragmatic confucianists) in the 18th century of Korea. He visited Beijing 4 times during his lifetime and was aware that Chosun was much more underdeveloped than Qing China. He ...
Chojeong is a literary name of BAK Je-gha, one of distinguished Silhakjas(pragmatic confucianists) in the 18th century of Korea. He visited Beijing 4 times during his lifetime and was aware that Chosun was much more underdeveloped than Qing China. He asserted that it would be indispensable for Chosun to introduce wagon and innovate Korean ships and reform coins for the improvement of their economic conditions in Bukhakeui(On Learning Qing China) written in 1778 just after returning from his first visit to China. He, furthemore. emphasized that Chosun could become wealthy and strong by way of domestic trade and foreign trade with China. At that time Qing China was considered as a national opponent and merchants were regarded as the lowest class in Korea. The most important thoughts of Chojeong are lay in his words that properties could be increased by way of investment like a well and the agriculture is like intestines and the wagon is like blood vessel in human body. These are foresighted in that it nearly equals to Say`s words; supply can create demand itself, and nowadays logistics cost can affect competitiveness of industrial enterprises. No one except Chojeong gave an idea that government could increase its national wealth and power through home and foreign trade in Korea, though someone mentioned the importance of commerce. Even Adam Smith, his contemporary great economist, gave an emphasis on domestic trade rather than oversea trade, for he would like to point out defects of mercantilism and to assert the advantages of free trade. He also explained that capitals are increased by parsimony. As seen above, Chojeong`s thoughts on distribution and commerce had originalities in comparing with those of contemporary Korean Confucianists and even Smith, father of modern economics.