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Prof. Daehoe AHN discovers 18th century book on financial technology 2019.07.04
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An 18th century book that rejects the common idea of Chosun era that “a gentleman does not chase after profit” has been excavated. The book claims that affluence is virtue while poverty is a vice.

The book is considered revolutionary for arguing the need of commercial activities and describing ways to earn fortune. It contradicts the norm of Chosun society which mainly emphasized agriculture while despising commerce.

Professor Daehoe AHN (Dept. of Korean Literature in Classical Chinese) announced on July 4th that he discovered the book “Haedonghwasik” written by Jaewoon LEE (1721~1782), a writer active during reign of King Yeongjo. 

 

The “Haedonghwasik” was cited in Kyusang LEE (1727~1799)’s book “Byungsaejaeunrok”, but its existence had not been proven until now. 

Jaewoon LEE was a child of a concubine in the prestigious LEE family of Hansan. LEE family was one of the major families in the Buk-in party and they were interested in commerce and economic philosophy.

Jaewoon LEE argues from the very start of the book that living in “honorable poverty” is not the right way of living. He argued, “A noble gentleman uses his wealth to show off himself but a petty man sacrifices himself to earn wealth. There is no reason for a gentleman to refrain from earning profits. One cannot criticize someone for having the ability to do lucrative business.” 

LEE continued to argue that pursuing profit is a natural instinct of human. “A baby stops crying when the mother feeds her breast. Old man also smiles when his family brings meat and soup. The learned and unlearned are not different in their instincts to crave for goods.”

Prof AHN said, “The point of LEE’s argument was that the yangban class (aristocrats) should also work to make their own livings. He bluntly argued to make money, and become rich if possible.”

 

Prof. AHN published his thesis about the “Haedonghwasik” on the Hanguk Silhak Yeongu. 


https://www.yna.co.kr/view/AKR20190703167900005?input=1195m

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