The Rise of Markets within a Planned Economy

Chapter 1. Market Socialist Reform Driven by the People
1. North Korean System Change: Top-Down and Bottom-Up Approaches
2. Markets within a Planned Economy: The Political Economy of Transition Toward Market Socialism
3. Content Overview

Chapter 2. North Korea’s Economic Prototype and Its Decentralization Reforms
1. The Prototype of the Socialist Planned Economy
2. Decentralization Reforms
3. The Legacy of Reform and the Birth of the Second Economy

Chapter 3. Economic Crisis and the Spread of the Second Economy: Examples
1. Economic Crisis and the Collapse of the Planned Economy
2. The Definition of the Second Economy
3. Legal Private Economic Activities
4. Illegal Private Economic Activities
5. Illegal Economic Activities Within the Planned Economy

Chapter 4. The Rise of Markets within a Planned Economy: The ‘July 1st Reform’
and the Acceptance of the Second Economy
1. Price Actualization and Changes in Price-Setting System
2. The Rise in Foreign Exchange Rates and Changes in the Foreign Currency Control System
3. Wage Increase: Introduction of the Merit-Based Wage System and Abolition of ‘Freebies’
4. Decentralization of Corporate Management
5. Market Expansion
6. Fiscal Reform

Chapter 5 Gradual Transition to Market Socialism
1. Why a Radical Transition is Not a Viable Option
2. Irreversible Marketization