Numerical exercises we have performed indicate that when one operates a country as a slavery system, the slaves would end up barely subsisting, whereas the masters could live affluently.What might North Korea do to achieve prolonged economic progresses? The followings appear to be the bare...

Utilizing a model of income and population growth specialized to a dual-class (master-slave) economy, we show that the lack of ownership for the majority of people may have been the main culprit why North Korea has remained stagnant in the past. The slave-workers, for whom ownership (and...

Establishing new SEZs, along with improving foreign relationships, is treated as the most important policy measure for opening the North Korean economy. Recently, North Korea has shown its interest in promoting two new SEZs, the Gaeseong industrial park and the Shinuiju special administrative...