A New Post By The Mortgage Cicerone.
A Guide for Mortgage Professionals.
Read other posts by The Mortgage Cicerone.
Note: Nighttime satellite photo of Korean Peninsula and the contrasting illumination between North and South Korea.
I'm guessing Milton Friedman would have loved this picture.
In fact, this satellite picture provides a powerful metaphor highlighting the difference between two deeply contrasting political. social and economic systems. Subsequently, it also represents the difference between individuals who are self-reliant/industrious and those who promote entitlement policies that eventually subordinate personal freedoms and produce a citizenry dependent upon the state.
Back to Korea.
While North Korea is ethnically homogeneous with their brethren in the South, there are stark gaps between the two countries separated since the Korean War (1950 - 1952). For example, North Korea developed into a communist dictatorship with a strong centrally planned economy while South Korea became a democracy with a thriving free-market based economy has thrived domestically and globally.
In addition, isn't it amazing even the fishing fleets in the waters surrounding Korea throw off more light than all of North Korea.
It is my sincere belief we as individuals, an industry and nation can learn from the example of these two countries. It is up to us as citizens and mortgage professionals to take responsibility for both our actions and that of the industry we operate.
Fascinating take. I have a good buddy who recently moved to S. Korea with his wife and newborn son. They love it.
Posted by: Mark Green | June 12, 2009 at 07:09 AM