Purpose of this study is to search for prospects and its alternatives after Market fundamentalism expires its growth-impetus. Market fundamentalism were resulted from reaction against failure of Keynesianism that had lasted a half century since the de...
Purpose of this study is to search for prospects and its alternatives after Market fundamentalism expires its growth-impetus. Market fundamentalism were resulted from reaction against failure of Keynesianism that had lasted a half century since the depression in 1930`s. Over a generation, it has played a role as and engine for globalization and has spreaded various types of new economics while expanding internet-based communication and direct democracy since 1980`s. However, it has come to cause prolonged economic recession world-widely as social regulation failed in copping with market principles followed by increased polarization. As a result, active discussions about economic democracy have been in process all over the world. This study is based on the concept that the economic democracy is a new engine of growth itself. It firstly discusses the pros and cons (right and wrong) in case that economic democracy excessively focuses on reforming Chaebols. Also it frames structure to discuss economic democracy focused on labor rights, education rights and public concept of land ownership, and finally it proposes to establish labor right, education right and public concept of land ownership as alternatives for Market fundamentalism.