Political Capitalism Series – Chapter I: From Markets to Privilege: Political Capitalism in Trump’s America and Chaebol Korea

I. The Neutral State as Referee In a healthy market economy, the state acts as a referee. It establishes the rules—antitrust legislation, consumer protection regimes, and financial regulatory frameworks—and then steps behind the curtain, allowing firms to compete within those boundaries. The authority of the state derives from its neutrality, not from any preference for […]