The national economy is a diversified organization, embodying both an economic mechanical function and a socio-organic function. Therefore, if the national economy is managed in the absence of institutionalism only by the value-free positive economic ...
The national economy is a diversified organization, embodying both an economic mechanical function and a socio-organic function. Therefore, if the national economy is managed in the absence of institutionalism only by the value-free positive economic science, it is unavoidable that Homo Oeconomicus and Homo Psychologicus create the phenomenon of the pariah capitalism in a newly industrializing country such as Korea. Therefore, a new methodology of Korean economic policy must be designed with the help of the Ordnungspolitik based on both Korean and Western institutionalism in addition to the value-free positive economic science.