This blog post calmly examines how the Russia-Ukraine war has impacted our daily lives and economy through energy, grain, and inflation, using concrete examples.   In February 2022, war broke out following Russia’s invasion of Ukraine. For many South Koreans, these two countries—especially Ukraine—are somewhat unfamiliar entities. While the names might be recognized, pinpointing them...

This blog post examines the structure of debt permeating our daily lives, from credit card usage to home equity loans, and calmly explores the implications of household debt for individuals and society. It seeks the criteria for making choices.   Loans are like ‘alcohol’ A loan, simply put, is ‘incurring debt’. Having debt isn’t necessarily bad. The problem lies in ‘excessive...

This blog post examines how inflation affects currency value, income, and perceived living costs, and how it alters our current lives and future choices through specific examples.   There was a time when you could ride the bus for 100 won From a single potato bought at the market, to a notebook chosen at the stationery store, to a cup of coffee at a cafe—everything we pay for and use has a...

This blog post calmly examines the connection between government policy and the real estate market through the structure of taxes levied throughout the entire process of buying, owning, and selling a home. It also outlines the logic by which taxes regulate the market.   Taxes are the final step in real estate In a market economy, those who possess assets must bear the corresponding tax...

This blog post examines how well the existing industrial classification system aligns with technological advancements and market changes, and discusses the need for a more flexible approach to reflect emerging industries.   Economist John Bates Clark originally classified industries into primary, secondary, and tertiary sectors based on whether they extract raw materials from nature, process...

This blog post examines why the Great Depression, which began in the U.S. in 1929, spread worldwide and whether it could have been prevented, exploring its causes and background.   What was the real cause of the Great Depression? The Great Depression that swept across the world in the 1930s was an unprecedentedly severe and prolonged economic downturn in the history of capitalism. Its...

This blog post explores why companies should consider long-term profits and social responsibility over short-term gains.   The capitalist economic system maximally guarantees the human desire to pursue profit. Companies, born from the purpose of profit-seeking, play a central role in the capitalist system as the primary agents of production. Profit, therefore, serves as the motivation...

This blog post examines the reality of companies forcing positive attitudes on employees and the underlying issues. Let’s consider together whether forced positivity is truly effective.   In our daily lives, we often encounter situations where store clerks or phone representatives smile constantly and treat customers with excessive politeness. Is it truly desirable that we easily...

Companies are tempted to collude to maximize profits. But there are a number of regulatory measures, including the Renewal System, that can help stop them.   There are a lot of economic news and stories that pop up every once in a while that are worth forgetting, and that can be annoying to busy people. One of the most common economic offenses is collusion. Collusion is most common in...

Mergers and acquisitions offer a variety of benefits, including expanding market share, reducing costs, and acquiring technology, but they require a careful approach that considers risks such as antitrust issues and clashing organizational cultures.   Companies compete endlessly to maximize profits. One strategy for this competition is for one company to acquire or merge with another...