Confucian Capitalism of Park Chung Hee: Possibilities and Limits

Until very recently, debate has been ongoing as to whether integration between capitalism and Confucianism can be achieved. We now have a clear answer to this question. Numerous examples—the economic prosperity of Japan, followed by the remarkable economic development in Korea, Taiwan, Singapore, and Hong Kong, and the more recent economic booms in China and Vietnam—show that Confucianism can be incorporated into capitalism. The two philosophies have found a fruitful common ground even as scholars continued to wrestle with this matter.