Guns Versus Butter: The Ordeal Of North Korea Economy

Guns Versus Butter: The Ordeal Of North Korea Economy

Author by Dr. Michael Popoola

Journal/Publisher: International Journal Of Humanities And Social Science Invention (ijhssi)

Volume/Edition: 7

Language: English

Pages: 2319 - 7722

Abstract

At its independence, North Korea adopted a principle of economic self-reliance. This is a doctrine
which isolated the economy of the country from the global economy. With the support of the Soviet Union and
other allies, the principle paid off for North Korea up until 1989. However, the demise of the Soviet Union in
1989 made North Korea to be left in the lurch. But rather than deregulate its economy and seek outside help,
North Korea sticks to tightened economy with the government having a firm control on every sector of the
country. Believing that it needs to further consolidate itself in power and secure the survival of the country, the
leadership of the country opted out of Nuclear Non Proliferation Treaty (NPT) which it had earlier signed and
began aggressive drive towards becoming a nuclear capability state- an action which has subjected the state to
several sanctions that further isolate the state’s economy. This research discovered that both the idea of
centrally controlled economy and the production and testing of nuclear weapons are implemented at the
expense of the welfare of the state’s citizenry who are bearing the brunt. The paper suggests the deregulation of
North Korea’s economy and the state compliance with the provision of the NPT in the interest of the citizenry
who should be seen as an ‘end’ and not a‘means to an end’.The study adopts qualitative research method to
gather and analyse data.


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