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ID:
165150
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| Summary/Abstract |
The success story of Korean economic development is intimately linked with the so-called developmental state; and education policy, as part of centrally orchestrated industrial policy, played a critical role in the country's rapid industrialisation, which allowed for high employment rates, relatively modest social inequality and remarkable social mobility. However, the Korean success story has started to show ‘cracks’ – with labour market dualisation, rising inequality and ‘over-education’. While acknowledging the importance of the East Asian financial crisis as external shock for the Korean political economy, we suggest more fundamental problems in the socio-economic and socio-political underpinnings of the developmental state and its education and skills formation system for understanding how Korea's economic and education miracle turned into ‘education inflation’, skills mismatch and social polarisation.
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| 2 |
ID:
152231
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| Summary/Abstract |
Coordinated welfare capitalism has been subject to comprehensive change since the 1990s, with workfare measures and the deregulation of employment protection at the heart of labor market reforms. Developments in Sweden, Germany, and South Korea challenge not only the assumption of relative stability that is commonly associated with the study of coordinated market economies, but also the assertion that this stability is associated with the persistence of established political coalitions. The authors contend that a collapse of longstanding welfare state coalitions is the key political driver of labor market reform, with the withdrawal of employers from previous welfare settlements at the center of this development.
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