Why is South Korea So Rich?

The competition for Korea’s most famous cultural export is now closed. With more than 3 billion views, Gangnam Style has done more to put South Korea on the map than anything else. The video portrays South Korea as confident, stylish, and prosperous—and that’s accurate.

What’s remarkable is how quickly South Korea became one of the most advanced economies in the world. In 1960, the average South Korean was poorer than the average person in Senegal, Honduras, or the Philippines. Today, they are more than ten times richer. How did that happen?

What is the Electoral College?

Every four years, people all over the world watch as the results of the American presidential election come in. By the end of the night, the result is usually clear but how the process actually works is anything but. The source of confusion is the Electoral College. To win, a candidate needs to have 270 votes in the Electoral College. But what is it? What is the relationship between the few hundred voters in the Electoral College and the tens of millions who went to the polls on election day? It seems a bizarre way of choosing the president of the most powerful country in the world.