Yong-Shik Lee

Yong-Shik Lee, a law and development scholar and Director of the Law and Development Institute, dives deep into the interplay between law and economic progress. He discusses the innovative General Theory of Law and Development, revealing how legal frameworks fueled South Korea's transformation. Lee critiques existing theories like Hayek's and emphasizes adaptable legal systems for tailored development. He also explores Hirschman's incremental reform approach and the pivotal role of the state versus market dynamics in fostering growth, underlining the need for effective legal institutions.