The last bastion has fallen. The last hold-out is no longer holding out. North Korea now allows collective farms to lease land to peasants. The peasants pay 70% of the crop to the collective.
This is sharecropping. This is what the USA had in the South after 1865. This is a move to capitalism.
We can be sure of this: output will rise. This is what Deng did in 1978. He freed up agriculture. The boom began within a year.
Starvation is the mother of political invention.
The peasants will buy into this if they believe they will really get to keep 70%. It may take a couple of years to persuade them. They have reasons to be skeptical. They are suspicious. But if the collectives abide by the rules, Communism is finished.
The experiment has failed.
Celebrate. Light up a Cuban cigar. (No. Sorry. That’s illegal in the land of the free and the home of the NSA.)
In 1953, South Korea was poverty-stricken. Today, it is among the richest nations per capita in the world. Its economic growth per capita dwarfs China’s.
May the lights come back on in the North.