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Jodie deVries

North Korea's 'Currency Reforms' Hurt Thousands : NPR - 1 views

www.npr.org/...story.php

northkorea casestudy people communism

shared by Jodie deVries on 14 Apr 11 - No Cached
  • July 19, 2010
  • You might think it would be hard to make life more miserable for North Koreans, but their government did just that last fall when it tossed out its old currency and introduced a new one.
  • middle-class
  • ...23 more annotations...
  • means that she was not starving.
  • Her father was an iron miner
  • Her mother was selling socks.
  • eking by an existence
  • she considered herself extremely privileged because she would occasionally get an egg to eat.
  • these people, again, managed to raise themselves up. They were hit terribly hard by a currency devaluation that the government brought about last fall.
  • Overnight, basically, all their money was wiped out.
  • We're talking about people who had maybe $100, $200 in savings
  • But by a North Korean standard, that was what was going to give them a future.
  • even though education is nominally free in North Korea, you have to buy books, you have to give gifts of cash to your teachers who are themselves not paid.
  • the tragedy that all of the hard work that they had done to bring themselves up from that despair was lost overnight.
  • people having heart attacks and sort of nervous breakdowns when this happened because it was so sudden and, even by North Korean standards, so cruel.
  • People were told in most towns about noon on a Monday that
  • And they had usually till the end of the day to turn in their money. And they would get new money dispensed that would be worth a dollar or two. It wasn't really clear what the value was.
  • henceforth, all their money would be basically garbage, just paper.
  • They killed themselves. They swore against the regime. Things like this had never happened.
  • From the perspective of the North Korean government, they saw the very notion of money, currency, as sort of antithetical to the socialist way of doing things. This is a very undiluted brand of communism, and you're supposed to be handed your house, your clothing, your food. You're not supposed to buy things for yourself. And the government hated the fact that people were working privately on the markets, buying their own food and having that level of economic freedom. And that's what they wanted to wipe out.
  • by destroying the money supply, the government can print new money and use it for its own purposes.
  • the net effect was confiscating everybody's money.
  • think this is the sixth time they've done it. This is what a North Korean economist told me. But this time, they faltered.
  • being a totalitarian regime means never having to say you're sorry.
  • But in this case, it went so bad, they said they were sorry.
  • Nothing to Envy: Ordinary Lives in North Korea
  • Jodie deVries on 14 Apr 11
     
    North Korea's 'Currency Reforms' Hurt Thousands How does North Korea's communist government and nuclear technology influence the lives of its people?  Demick, Barbra. Interview by Renee Montagne. "North Korea's 'Currency Reforms' Hurt Th." Morning Edition. NPR, 19 July 2010. Web. 11 Apr. 2011. . Summary: The Communist North Korean government decided to change the currency of their country abruptly which destroyed the savings of many of its people. The government felt that the people having money was anti communist. In the article there is a case study on a 17 year old girl who grew up in a middle class household which meant that she wasn't starving. The other reason it is believed that the government chose to change currency was to "confiscate" the money of the people to gain money to make a celebration for Kim Jong Ilk's birthday.  Responce: How terrible for a country to be able to so easily destroy the hopes and dreams of its people! This article is so directly an answer to our research question because in a democratic government this could have never happened. This is a good article to have read because the case study will be very advantageous for our presentation. Questions: 1) How can a government do that to it's people? 2) What are the continuing effects of this currency change? 3) What are some other case studies like the 17 year old girl? (i will be checking the book this is based off out of the library.)
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