The Korea Herald

As Kaldor’s facts fall, ‘Occupy Wall Street’ rises

ViewpointsOct 20, 2011

In Economics 101, students learn that the share of national income received by labor stays roughly constant with the share received by capital. This is the first of “Kaldor’s stylized facts,” articulated half a century ago by the Cambridge economist Nicholas Kaldor. Recent experience betrays this le
[David Ignatius] Unlikely fish in the trawlers’ net

ViewpointsOct 20, 2011

WASHINGTON ― So now maybe every Quds Force operative or al-Qaida sleeper agent will have to worry that when he discusses a plot, he may unwittingly be talking to an undercover informant from the DEA or the FBI. And that paranoia is certainly all to the good. But I have a nagging concern about t
France’s Socialists getting realistic on Europe crisis

ViewpointsOct 20, 2011

In a vote that may have serious consequences for Europe’s economic crisis, the French Socialist Party showed laudable level-headedness this week in selecting the moderate Francois Hollande as its presidential candidate for next year’s election. Hollande ran on a platform that was largely free of the
Romney’s fuzziness may weigh on general election

ViewpointsOct 20, 2011

There is a possible scenario under which Mitt Romney could lose the Republican presidential nomination. Rick Perry, Herman Cain or Michele Bachmann galvanize social-issue conservatives and might win the Iowa caucuses in early January. A week later, the often contrarian and independent-minded primary
[Brahma Chellaney] China emerges as water hegemon

ViewpointsOct 20, 2011

NEW DELHI ― International discussion about China’s rise has focused on its increasing trade muscle, growing maritime ambitions, and expanding capacity to project military power. One critical issue, however, usually escapes attention: China’s rise as a hydro-hegemon with no modern historical parallel
[Editorial] Escalating credit card row

EditorialOct 19, 2011

Some 70,000 restaurant owners from across the nation rallied in Seoul on Tuesday, calling for a cut in the fees they pay to credit card companies. The demonstration came one day after credit card issuers announced a plan to lower the fees for restaurants and other small shops from the current low en
[Editorial] Baby boomers need support

EditorialOct 19, 2011

A growing number of Korean baby boomers who have retired from their main lifetime jobs are starting up microenterprises to earn a livelihood. But they are exposing themselves to the risk of poverty as their chances of success are low due to their lack of experience and unfavorable economic condition
Wall Street’s 1% meets 2 billion seeking answers

ViewpointsOct 19, 2011

It’s all about location, location, location, as they say in real estate. Protests, too. There were more obvious places for Tokyo’s Occupy Wall Street protest to converge on Saturday than the nightlife district of Roppongi. It could have begun in Nihonbashi, home to the Tokyo Stock Exchange; Nagatach
[Robert Reich] Ripples from Europe’s debt crisis

ViewpointsOct 19, 2011

It’s impossible to know whether Occupy Wall Street will coalesce into a political movement, but there’s little question Wall Street is still up to its old tricks.Right now the Street is dedicating all its lobbying power to water down regulations designed to implement financial-reform legislation. It
Still tolerating the wrong kind of language

ViewpointsOct 19, 2011

Forgive me for repeating a story I’ve told before but, considering the latest blatant example of religious bigotry in the country, it is worth retelling.Outside a Baptist church in the South several years ago, a black man was crying his eyes out.God came along and asked, “My son, why are you weeping
Obama team’s Al-Awlaki memo furthered Bush legacy

ViewpointsOct 19, 2011

Killing terrorists with drones is great politics. To the question, “Is it legal?” a natural answer might well be, “Who cares?” But the legal justifications in the war on terrorism do matter ― and not just to people who care about civil liberties. They end up structuring policy. As it turns out, targ
[Richard K. Sherwin] Justice in an age of smartphones

ViewpointsOct 19, 2011

NEW YORK ― On Oct. 3, an Italian appeals court overturned Amanda Knox’s murder conviction and ordered her immediate release from prison. In 2009, both Knox and her former boyfriend, Raffaele Sollecito, were found guilty of the 2007 sexual assault and fatal stabbing of Knox’s housemate, Meredith Kerc
[Editorial] Success or half success?

EditorialOct 18, 2011

Two years after work started to help the four major rivers serve industries and rural life, river beds have been deepened, banks streamlined and hundreds of kilometers of bike lanes built on both sides of the waterways. To the great relief of President Lee Myung-bak and his development-minded aides,
[Editorial] Lee’s property

EditorialOct 18, 2011

President Lee must regret that he followed the advice of his aides to buy property in his son’s name to build a house for his retirement. He must feel doubly sorry that his own party showed little sympathy for him and instead regarded him as a burden in the upcoming elections. The land in Naegok-don
Europe’s last stand needs overwhelming firepower

ViewpointsOct 18, 2011

Europe is heading for what could be the last stand in its two-year-old sovereign debt crisis. By the time the Group of 20 nations holds its summit in Cannes, France, on Nov. 3-4, the European Union aims to have a rescue plan sound enough to ensure the financial troubles of struggling governments don