IDEAS - Interactive Database for Economic Analysis & Synthesis

July 3, 2009

One Small Step for Capitalism

Here’s something to celebrate on the Fourth of July. For the first time ever, North Korea’s state television station has broadcast a beer commercial. (Under normal circumstances, North Korean state programming eschews advertising in favor of documentaries about communist dictators.)

Not surprisingly, given Kim Jong Il’s opposition to free markets, the advertisement is vague on details like price:

It was unclear how much the beer cost and how many North Koreans could afford it. The country is among the poorest in the world, with an average per capita income of $1,065 in 2008, according to the South’s central bank.

If you have to ask, you can’t afford it.

 

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