5 ms·
I know nothing about Korea, but one possibility is that a small phenomenal success generates an industry or makework that is effectively just siphoning off the
by judk 12y ago
I know nothing about Korea, but one possibility is that a small phenomenal success generates an industry or makework that is effectively just siphoning off the value of the core success.
Imagine a startup that generates a $billion in profit from factory made gadgets, but reinvests the profit in bad ideas poorly implemented by office non-workers, effectively middle-class welfare jobs program.
- kyllo 12y agoThis. Koreans have a strong sense of community, and are extremely group-oriented. Sharing, fairness within the group, and conformity to social norms are highly valued. As a side effect, when a product becomes commercially successful, a large bureaucracy is quickly established underneath it, which subsidizes a lot of other unproductive activity and becomes dead wood over time.