North Korea’s Economic Failure

The death of Kim Jong Il invites comparisons between North and South Korea. Donald Marron, a professor of economics and writer for Seeking Alpha (, posted the following graphic yesterday  comparing the per-capita GDP of the two economies since the 1970’s.

Source: Donald Marron - Seeking Alpha

The difference in growth rates is dramatic. Although we cannot visit North Korea, a comparison of Google Earth images of Pyongyang and Seoul is revealing. In some respects the two cities, like most cities, look similar. Yet looking closely we can readily see a major difference. In Pyongyang there are almost no cars.

Seoul - source: Google Earth

Pyongyang - source: Google Earth

One thought on “North Korea’s Economic Failure

Leave a Reply to deb Cancel reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s