Friday, December 23, 2011

Life Inside the North Korean Bubble

I came across this fascinating report by Sue Lloyd-Roberts of the BBC about a year ago and, given the recent events in North Korea, it seems like a good time to post it. Life Inside the North Korean Bubble is a revealing glimpse of the nature of existence in an explicit totalitarian state. The propaganda, lies, and threats are apparent, as is the economic regression that is always the consequence of socialism. One of the most important lessons from the report is that North Korea relies on foreign aid and must allow for pockets of market activity merely in order to feed its people. You can watch the film in two parts below.

If you interested in an introduction to the economics of socialism and why it always fails, I recommend chapter 18 of my book, Foundations of Economics. If you want a full analysis of the economics and sociology of socialism I recommend Socialism by Ludwig von Mises.

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