[Son Seong-jin Column] Growth and Pragmatism

The image of the Lee Jae-myung government emphasizing growth is unfamiliar. Even if it is a paint motion hiding its true colors, it is good to see at first glance. I only hope it does not end as a performance conscious of the concerns of many conservatives. However, it is not reassuring how they will harmoniously manage the conflicting values of growth and distribution. I believe President Lee Jae-myung's pragmatism means maintaining balance without leaning to one side.

The conflict between socialism, conceived in the French Revolution and founded by Karl Marx, and traditional capitalism is a difficult issue to compromise easily. The integration of the strong and the weak, the rulers and the ruled, the rich and the poor is ultimately impossible. Moreover, politics, which constantly seeks power to realize the interests of a group, uses ideology as nourishment to incite conflict.

The confrontation of values between growth and distribution has intensified, and the division has become severe in today's reality. It has been confirmed in the confrontation between capitalism and socialism that both have evils and contradictions. Neither side can be an absolute good. Right-wing governments cannot ignore equality and distribution, and left-wing governments cannot disregard freedom and growth. A balanced policy that crosses boundaries is pragmatism.

The 80 years of South Korea, which miraculously created a top 10 economic power from a devastating war, is essentially a history of growth. By betting the nation's fate on high growth while postponing distribution, it is now enjoying the current glory. The sacrifice of labor has also been the foundation of growth, which cannot be denied. Therefore, it has already been decades since the value of equality and the rights of workers were revisited and emphasized.

The problem is that the backlash from sacrifice is so strong that it has reached a state of reverse imbalance, harming freedom and growth beyond normalizing equality and labor. Looking back at the past, paradoxically, the rise of labor becomes an element that hinders growth. The current government's pro-union policy, following the Moon Jae-in administration, is worrisome for that reason. Pragmatism, which aims for both distribution and growth and crosses left and right, can easily flounder in the swamp of contradiction. It requires exquisite operation.

The reason why socialist countries that experienced communism are more focused on growth is based on the empirical rule that distributing evenly hinders development. China's all-in on growth, resembling South Korea's high-growth period, is terrifying. This year's top priority for the Chinese economy is, of course, growth. This year's economic policy is 'growth in stability' (穩中求進·Wenzhongqiujin) and 'promoting stability through growth' (以進促穩·Yijincuowen). Growth will not be excluded from the highest value of China's economic policy for the time being.

Argentina is a country that followed the path abandoned by original socialist countries and fell into decline. Argentina's 80 years are represented by 'Peronism,' which can be summarized as populist policies, industrial nationalization, welfare expansion, and worker favoritism. The result of Argentina, which was more socialist than socialism, was national decline, and the utopia for workers is nowhere to be found. The reform process of current President Javier Milei, who started with a small government, is worth examining deeply.

Pragmatism has become a global trend not limited to the economy. The new Cold War should be viewed as a power struggle prioritizing national interests rather than a left-right confrontation. Ideology is merely a tool for solidarity between countries. The meaning of that tool is also becoming dull. The chaos of modern diplomacy, which seems to have lost its direction, is also expressed as pragmatism. Security and economy are mixed, and neither is pursued exclusively. In America's 'America First' policy, there is no distinction between hostile and allied countries. Even the blood ally South Korea is not favored, and a more expensive 'bill' is presented.

Vietnam, while having border disputes including the sea with China, a fellow socialist country, conducts joint military exercises. Vietnam, which once pointed guns at South Korea, has become one of South Korea's top three economic partners. Vietnam's 'bamboo diplomacy' has much to suggest to us. The new government must know how to employ practical pragmatism that is flexible yet strong, depending on the counterpart and situation, whether in economics or diplomacy.


tonio66@fnnews.com