The Political Economy of Business Ethics in East Asia

The Political Economy of Business Ethics in East Asia

A Historical and Comparative Perspective

1st Edition - September 23, 2016

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  • Editors: Ingyu Oh, Gil Sung Park
  • eBook ISBN: 9780081006955
  • Hardcover ISBN: 9780081006900

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The Political Economy of Business Ethics in East Asia: A Historical and Comparative Perspective deals with modes of ethical persuasion in both public and private sectors of the national economy in East Asia, from the periods of the fourteenth century, to the modern era. Authors in this volume ask how, and why, governments in pre-modern Joseon Korea, modern Korea, and modern Japan used moral persuasion of different kinds in designing national economic institutions. Case studies demonstrate that the concept of modes of exchange first developed by John Lie (1992) provides a more convincing explanation on the evolution of pre-modern and modern economic institutions compared with Marx’s modes of production as historically-specific social relations, or Smith’s free market as a terminal stage of human economic development. The pre-modern and modern cases presented in this volume reveal that different modes of exchange have coexisted throughout human history. Furthermore, business ethics or corporate social responsibility is not a purely European economic ideology because manorial, market, entrepreneurial, and mercantilist moral persuasions had widely been used by state rulers and policymakers in East Asia for their programs of advancing dissimilar modes of exchange. In a similar vein, the domination of the market and entrepreneurial modes in the twenty-first century world is also complemented by other competing modes of change, such as state welfarism, public sector economies, and protectionism.

Key Features

  • Compares Chinese, Japanese, and Korean business ethics from a comparative and historical context
  • Explores recent theoretical approaches to capitalist development in modern history in non-Western regions
  • Discusses the theoretical usefulness of new institutionalism, modes of exchange, and neoclassical discussions of business ethics
  • Evaluates historical texts in their own languages in its attempt to compare Chinese, Japanese, and Korean business ethics in the pre-modern and modern times


Researchers in East Asian business history and business ethics; graduate students and instructors in business ethics and East Asian history

Table of Contents

    • Author Biography
    • Chapter 1: Comparing State Economic Ideologies and Business Ethics in East Asia
      • Abstract
      • 1.1 Introduction
      • 1.2 Modes of Exchange and Ethical Persuasion
      • 1.3 East Asian Case Studies
      • 1.4 Conclusion
    • Chapter 2: From Market to Mode of Exchange
      • Abstract
      • 2.1 Market
      • 2.2 Smith and Polanyi
      • 2.3 Mode of Exchange
      • 2.4 Agenda
    • Chapter 3: Confucianism and Work Ethic—Introducing the ReVaMB Model
      • Abstract
      • 3.1 Why This Chapter?
      • 3.2 Values and Behavior: A New Conceptual Framework (ReVaMB)
      • 3.3 The ReVaMB Model Applied to Confucianism
      • 3.4 Confucianism in the Workplace
      • 3.5 Conclusion
      • 3.6 Implications and Future Research
      • Appendix
    • Chapter 4: Corporate Authoritarianism and Civil Society Responding in Korea: The Case of Minority Shareholders’ Movement
      • Abstract
      • 4.1 Fall of the Myth of Corporate Authoritarianism
      • 4.2 The Unfolding of Minority Shareholders’ Movement
      • 4.3 Changes in Corporate Governance Structure
      • 4.4 Corporate Governance as a Global Agenda: Not Limited to Korea
      • 4.5 Conclusion: The Authority of Business Towards New Governance
    • Chapter 5: Business Ethics in Korea: Chaebol Dynastic Practices and the Uneven Transition From a Market to an Entrepreneurial Mode of Exchange
      • Abstract
      • 5.1 Introduction
      • 5.2 Korean Development During Mixed Modes of Exchange
      • 5.3 “Our Actions are Justifiable Because They Deliver Economic Growth”
      • 5.4 “Our Actions are Normal as They are Part of Korean Culture”
      • 5.5 Corporate Governance and Business Ethics Post-Financial Crises
      • 5.6 The Son Also Rises: Succession Planning in the Age of the Emerging Market and Entrepreneurial Modes of Exchange
      • 5.7 Conclusion
    • Chapter 6: Mapping K-Pop Past and Present: Shifting the Modes of Exchange
      • Abstract
      • 6.1 What Exactly Is the Recorded Music Industry?
      • 6.2 The Colonial Period to 1945: The Korean Music Industry, and Its Censorship Mechanisms, Emerges
      • 6.3 PostLiberation, 1945–1992: The Korean Music Industry Reformed
      • 6.4 1992: Exploding Ballads
      • 6.5 Packaging Korean pop, 1996 onwards
      • 6.6 Conclusion
    • Chapter 7: Business Ethics and Government Intervention in the Market in Joseon
      • Abstract
      • 7.1 Introduction
      • 7.2 The Principle of Daedongbeop and Management of Seonhyecheong in Late Joseon
      • 7.3 State Managerial Ethics and Market Perceptions as Reflected in the Daedongbeop
      • 7.4 Conclusion
    • Chapter 8: The Politics of Institutional Restructuring and Its Moral Persuasion in Japan: The Case of the Iron and Steel Industry (1919–34)
      • Abstract
      • 8.1 Introduction
      • 8.2 Entrepreneurial Mode of Exchange: Survival Before Rationalization (1919–25)
      • 8.3 Mercantile Mode of Exchange: Rationalization Gains Salience (1926–34)
      • 8.4 Conclusion
      • Appendix 8.1 Shingikai Meetings of the Temporary Investigation Committee on Fiscal Policy and the Economy
      • Appendix 8.2 Background of Leading Members of the Temporary Investigation Committee on Fiscal Policy and the Economy
      • Appendix 8.3 Shingikai Meetings on the Japan Steel Corporation Bill
    • Chapter 9: Political Economy of Business Ethics in East Asia
      • Abstract
      • 9.1 Introduction
      • 9.2 Theoretical Implications of the Findings
      • 9.3 Methodological Wisdom in the Study of Economic History and Business Ethics
      • 9.4 Future Guidelines for Business Ethics Research
    • Index

Product details

  • No. of pages: 176
  • Language: English
  • Copyright: © Chandos Publishing 2016
  • Published: September 23, 2016
  • Imprint: Chandos Publishing
  • eBook ISBN: 9780081006955
  • Hardcover ISBN: 9780081006900

About the Editors

Ingyu Oh

Ingyu Oh is a Professor and the Director of the Center for Hallyu Studies, RIKS, Korea University. He received his Ph.D. in Sociology from the University of Oregon, U.S.A.

Affiliations and Expertise

Research Institute of Korean Studies, Korea University, Seoul, South Korea

Gil Sung Park

Gil-Sung Park is the 29th Dean of the Graduate School and Professor of Sociology at Korea University, Seoul.

Affiliations and Expertise

The Graduate School, Korea University, Seoul, South Korea

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