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Critically Capitalist presents an ethnography of South Korea’s asset seekers, including amateur stock investors, real estate enthusiasts, and money coaches, to demonstrate how financialized asset capitalism is sustained. As they hunt for profit margins, rent, and dividends, they simultaneously critique capitalism and posit their pursuit of assets as a form of resistance. Bohyeong Kim theorizes this new spirit of capitalism in South Korea as “critical capitalism,” arguing that it reflects the popular discontent with both national development and financial neoliberalism. As a paradoxical critique and legitimation, Bohyeong Kim argues that critical capitalism valorizes the capitalist economy not through a triumphant narrative, but by highlighting the emotional wounds, destroyed communities, and oppressive tactics of modern capitalism. 

Drawing on multi-sited ethnography and in-depth interviews with a broad community of aspiring millionaires, Critically Capitalist illuminates how contemporary capitalism thrives by channeling discontent into financial and real estate markets, which in turn has cemented critical capitalism as the cultural and affective backbone of South Korea’s economy.

When anthropologists and other students of culture want to compare different societies in such areas as the organization of land, labor, trade, or barter, they often discover that individual researchers use these concepts inconsistently and from a variety of theoretical approaches, so that data from one society cannot be compared with data from another.

In this book, Rhoda Halperin offers an analytical tool kit for studying economic processes in all societies and at all times. She uniquely organizes the book around key concepts: economy, ecology, equivalencies, householding, storage, and time and the economy. These concepts are designed to facilitate the understanding of similarities, differences, and changes between contemporary and past economies. While this is not only a "how-to" book or handbook, it can be used as such. It will be of great value to scholars and students of archaeology and history, as well as to ethnographers and economists.

In recent years, most of the economies of Eastern Asia have been absorbed into global capitalism. Capitalism has transformed these economies, but the process has not been one-way. The cultures of Eastern Asia have in turn shaped how capitalism organizes labor, capital, and markets in ways that could not have been anticipated even ten years ago. On the basis of rich empirical analyses of East and Southeast Asia, and with theoretical insights from different approaches in the social sciences, Culture and Economy addresses these issues in both macroscopic and microscopic terms. Specific topics discussed range from the use and reinvention of Confucian and Islamic legacies in South Korea and Malaysia to promote a particular vision of the economy, to the role of family- and network-structured firms and the reliance on trust-based personal networks in Southeast Asia, to the cultures of labor and management in Chinese village enterprises and Vietnamese ceramics firms, as well as in South Korean export processing zones and the current Chinese labor market. These careful case studies suggest that it is inevitable that Eastern Asia will shape, even remake, capitalism into a system of production and consumption beyond its original definition. Timothy Brook is Professor of History, Stanford University. Hy V. Luong is Professor of Anthropology, University of Toronto.