Capitalism and Work and Labor

Capitalism is one of the economic systems, characterized by private or corporate ownership of capital goods, investments that are determined by private decision, and prices production and distribution of goods that are determined mainly by competition in the free market. Korean society had a rapid economic growth under capitalism. From the birth of sociology, the major concerns of a sociologist were work and employment. This rapid economic growth affected the Koreans' lives tremendously. In a capitalist society the work effect directly to private property thus work has more significant meaning to the peoples’ life. Work or labour can be defined as a productive activity, especially for the sake of economic gain; the body of persons engaged in such activity, especially those working for wages. This essay will discuss how peoples’ work has changed under authoritarian regimes toward to democratic society as a capitalist country such as labour market, welfare system, woman’s work, advantages and disadvantages.

Korean society was rapid economic growth under capitalism. This rapid economic growth effects a lot to the Korean’ life. Industrialization can affect by many other factors such as economics, politics, and social policy. The capitalism of Republic of Korea was influenced by United States and developed to emulate other developed countries. Also one of unique feature in Korea economics accomplished brilliant economic development under authoritarian regimes for short period until toward to democratic society in 1987. (Chang Yun-Shik and Steven Hugh lee, 2006) During the 1960s, Korean society classified as an authoritarian developmental state. The form of developmental state can be found in many East Asian countries. Developmental state defined by the society get reached rapid industrialization combining with coordinated market economy and powerful bureaucracy as target of national economic development, with based on private ownership of property. Most of