# Note that how Hankyung BP altered and distorted Deaton's idea is on my last post. This is to show their attitude on this matter, how they react to the sincere criticism with hoax, so if you want the full detail on this matter, refer to my last post and links in it.
In fact, their forefront of 'brigade' isn't Hankyung BP, but various 'institutes', one of whose biggest firepower being Free economy institute, who is one of the fiercest fighters in offending redistribution, taxation on rich, and welfare (not exactly worded 'welfare', but 'populism'). Their attack is fortified with Hankyung's support fires, in a form of a newspaper article, and columns from the author of their own choosing -- intention so conspicuous in the selection. Hankyung BP's alteration in Deaton's text can be placed in this context, and all those 'Free economy brigade' use Deaton's Korean (Hankyung BP's) version of the book as their supporting point, or reference against Piketty, for Deaton won THE Nobel Prize, which Piketty and Saez haven't won.
But, even after Princeton University Press' statement came out and Hankyung BP retreated in silence, Hankyung fired several support fires in their spaces. After Hankyoreh's full-3-page feature article on their Saturday edition which criticizes Hankyung BP's distortion on Deaton appeared, Hankyung ran an editorial that their -- Hankyung BP's -- intention was distorted by Hankyoreh, and demanded all those malicious attacks be stopped. Then, yesterday (Nov. 1, 2015), its editor in chief Kyu-jae Jeong released a rant in his facebook page -- official article not found in his own website, "Jeong Kyu-jae news".
So, I introduce Deaton's quotes on Hankyoreh, translate Hankyung's editorial and JKJ's rant, for it hilariously reveals who they are fighting for, and how strong their solidarity runs within 'Free market Fantasy', and amount of their hatred upon those who seek justice -- coincidentally, 'Free economy institute' even runs a lecture which denigrates Michael Sandell, author of the book, <Justice : What's the right thing to do?>
Deaton's Answer, quoted
-Hankyung BP, the publisher of the Korean translation of your The Great Escape, and its affiliate newspaper, The Korea Economic Daily, have represented your book in such a way that its main argument is ‘inequality is good in that it promotes growth’. They also insist that your winning the Nobel Prize signifies the committee’s decision to take side with ‘promoting growth’ rather than ‘fighting against inequality’. As a result, you are known in Korean society as a pro-growth (and even pro-inequality) economist. Would you agree to this view?
# Note : Korean Economic Daily reads Hankook(Korea) Kyungje(Economic daily), abbr. Hankyung. It owns Hankyung BP as its subsidiary.
=LIKE ALL SENSIBLE PEOPLE I AM PRO-GROWTH, BUT NOT AT ALL COSTS. INEQUALITY CAN BE A BY-PRODUCT OF GROWTH, IT CAN BE AN INCENTIVE TO GROWTH, BUT IT CAN ALSO CHOKE OFF GROWTH. SOCIETIES NEED TO BALANCE THE PROS AND THE CONS.
-It is obvious that inequality sometimes plays an important role in promoting the development of the economy as well as the persons living in it. But, recently, it appears that there is a growing concern from economists about inequality. Could you explain why? Perhaps this question is about the motivation which made you write The Great Escape in 2013, for it is in a sense exceptional in that your work has been mostly for scholars, not for the public.
=THINK THAT PIKETTY AND SAEZ’S WORK ON DOCUMENTING THE VERY TOP OF THE INCOME DISTRIBUTION WAS AN IMPORTANT IMPETUS TO THE BROADER DEBATE. BEFORE THAT WE DIDN’T KNOW JUST HOW MUCH OF THE GAINS WERE FOCUSED AT THE VERY TOP. I HAVE WORKED ON INEQUALITY THROUGHOUT MY LIFE, BUT LIKE OTHERS, FOUND THEIR WORK VERY IMPORTANT AND INSPIRING.
Hankyung's answer to Hankyoreh
Hankyung BP person replied to Hankyoreh's inquiry via phone call, stating that "Hyun's preface 'Piketty vs Deaton' was a marketing point, but is to be removed, and it is their mistake that translation was done on too short time and editorial process was outsourced. But no distortion or such an attempt was on intent.", admitting that the Korean Version was a flawed one.Anyway, Hankyung ran an editorial.
'Escape from the poverty' Thoughts on Angus Deaton Economy
The attack on Hankyung BP, who's been paying attention to Deaton, this year's Nobel Laureate, and introduced him to public earlier, has been going over the line.
Denounciation poured down on Hankyung BP, can be summarized into 4 points. Abbreviation on Preface and Introduction, Altering the sub-title, Inserting a preface by local academic, Partly omitting text. Hankyung BP already explained and admitted its wrongness. Reducing redunduncy, some parts of the subtitles changed, adding a preface is solely for reader's understinding, and done nothing to the nature of the work, and they have no reason to do so.
Hankyung BP's promise was, despite all the face, if there remains a part that can unnecessarily cause misunderstanding, all will be fixed in revised edition. Princeton University Press has understood and sent a letter, clarifying that "Queries regarding the new Korean edition should be directed to Hankyung BP." But, last weekend, the newspaper Hankyoreh, via 3 pages feature, attacks Hankyung BP, that they distorted the essence of the book, furthermore Deaton's studies. Even the their title translation on "Wi-dae-han tal-chul" on contrary to "dae-tal-chul" in Japanese version was on their weird list of criticism.
# Note : in Korean, dae(大) means big in size or magnitude, while Wi-dae(偉大) bears meaning which has to do with something grandioso, something with tremendous historical value. The movie by the name <The Great Escape> by Steve McQuinn, is also translated <Dae-tal-chul>.
Deaton's economic view is, to anyone who has sense, so clear and distinct that there is nothing to argue about. The message is that humanity has achived a great escape from the poverty in modern age. That's why the book is named 'GREAT ESCAPE'(sic). Hankyung published his book and has interviewed him because that the Korean history was such a great escape, and, for that reason, his views on economics has resonated greatly with our reality. Anyone who curses the history of the Republic of Korea, would have some grudgeness against the miraculuous growth and great escape.
Essence of Deaton's study is that 'via Great escape, humanity become much happier and achieved well-being', though there are many matters left. It is why subtitle of the book was 'poverty, disease, and inequality'(sic) This is the essence of Deaton economics. Practical analyses and many statistics cases prove this.
# Note : the subtitle of the book is wrongly quoted.
Those who curse the world is getting much worse, will feel unpleasant with Deaton's escape theory. So they even dare to play cheap tricks to provoke sundry quarrels, to plant distorted images on whole Deaton's economics to public. Now is the time we humbly receive Deaton's message of hope to those who succeeded to escape.
RANT from the editor in chief
Although I feel like puking already, I'll move on to Kyu-jae Jeong's rant.Newspaper Hankyoreh's gibberish on Deaton, and Hankyung is certainly going YAHOO. As I cannot stay still, I'll give them some economy lesson, one by one. While I feel not willing, and had little time to play with them, this grows ridiculous. Alteration, manipulation, nonsense has gone off the line. To those who watch Jeong Kyu-jae TV, I'd like to summarize a few.
1. On Hankyoreh's surprise that Hankyung compared Piketty and Deaton.
If Hankyoreh sees that Piketty and Deaton are not so different and has their arguments resembles each other, It's call rape and lovemaking is same, for it is sexual. Piketty who throws curses on Capitalism, and Deaton who claims that Capitalism made humanity escape from poverty? How can they be the same? If they share something, it can merely be words such as inequality, life, death, happiness, problem. Can't Hankyoreh distinguish victim's scream from lover's whisper?
Can the statement that there remains some problems, be tantamount to cursing the history of human lives? If you think Hankyung falsely put Deaton and Piketty in opposite position, you should read Kenneth Rogoff, professor of Harvard University, and Nikkei book review on Deaton. By the way, Prof. Rogoff is a strong Nobel Candidate. It is best that our interpretation and report was unique and leading-edge, but I'm sorry that we are on standard.
2. Comment by Deaton, and claim that Hankyung put Piketty and Deaton on the opposite side.
Sorry, but NO. This is a lie, entirely base on ignorance. The one who first explaiend him as the opposite of Piketty is not Hankyung. Nor that we plagiarized. Of course, and naturally we put them on the opposite pole. The one who says that the world is getting better and The one who says that the world is getting worse, naturally and understandably, stands on opposite position. This is not something Deaton has to agree or not. Deaton just wants to stand aside the argument.
We can't compare these two, because Deaton says "Don't put me in this tiresome argument."? Saying his word is for Deaton, but Comparing Deaton with Piketty is for commentators and researchers. Neither Deaton nor Piketty has the right to say on this as pro or con.
3. on whether Decrease in volume means distortion on author's statement
When the book with 350 pages is translated, the amount is heavily increased. It is irresponsibility, that the text translated word-to-word, and serve it as it is to the public -- Translating into Korean requires much more pages. I am lost for words, that they say this as a distortion to the book's message.
Deaton's book says much about inequality, but constantly claims that happiness is on the rise, and life gets better and better. It seems that there are some claims that we hid his argument and distorted his view via editing, but that's not us. It is classic lefties tactics.
Deaton stands where the growth is not all that matters, but source of all evil (sic. I 'especially' cannot comprehend his argument in this sentence) Some phrases from some sentences can't alter Deaton's core argument.
4. For those who doesn't read this book, I'll post a lecture video of Deaton. Someone tell them, Please study harder.
Deaton even goes on to say that there is no need to aid troubled poor countries. He claims that aid does not improve the countries' conditions at all. On the other hand, he says that the aid for disease prevention is very urgent. It's just not right, to quote latter to claim that Deaton sees the aid to underdeveloped as crucial.
5. Inequality is a word for someone who failed to get on the road of growth, and those who have advanced forward. Like North and South of our country.
In other words, poverty still left matters. That's Deaton's opinion. It is why he stresses that much on economic growth. It's different from Piketty, who claims the solution by imposing taxes up to almost forfeitting 90%. Whereas Hankyoreh seems to want to claim that our reality is not heaven, but this country is just HELL. Oh my. jkj
Note that Neither Hankyung or Jeong does not use the word 'BP', and Kyu-jae Jeong uses more strong words, expressions, and under-the-standard logics. It's because it's subscription based cast like Rush Limbaugh, focusing more on those who longs for harsh words. It's a part of the tactics, where someone writes with grammars attached to his brains, someone goes maniac.
Yes, they are in fact one party. I'm too tired and smashed up translating this hoax in the word and sentiment they used, unlike they did with Deaton's. Feel like my head is contaminated.
I end this writing rather briefly, WITH WARNING TO SCHOLARS, CRITICS, MEDIA, AND ANY PERSON ABROAD : THIS IS HANKYUNG, THIS IS HOW ONES WHO CHAMPION THE CORPORATE DEMAND ALTER THE REAL OPINIONS INTO SOMETHING PRO-CORPORATE. THIS IS FREE ECONOMY BRIGADE. THEY WILL DISTORT YOU WITH THIS LEVEL OF SINCERITY AND DETERMINATION.
Links
[1] neubauten, How Hankyung's commitment to "Free economy" distorted Deaton'shttp://beneath41.blogspot.kr/2015/10/how-hankyungs-commitment-to-free.html
[2] Free economy institute front page.
As they don't provide english page, I do not know what CFE means - maybe, a 'Center' for Free Economy? All you can say is that, their chairman wrote preface that Princeton University Press demanded to remove, and their slogan on their page reads "Freedom is not free of charge."
http://www.cfe.org/
[3] Hankyoreh, " Deaton says, "Inequality can also choke off growth" ", Oct. 30, 2015
http://www.hani.co.kr/arti/culture/religion/715336.html
[4] Hankyung, " 'Escape from the poverty', Thoughts on Angus Deaton Economy ", Nov. 2, 2015
http://www.hankyung.com/news/app/newsview.php?aid=2015110111941
[5] Kyu-jae Jeong, Untitled, Nov. 2,2015
https://www.facebook.com/jkjtv/posts/900631049992006?pnref=story
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