| One korean shipping company went bankrupt. You could then no longer ship things to Europe for several weeks. So now your economy has single points of failure. Samsung failing would cause massive failures. Markets are not rational, and crises of confidence will kill. From a corporate governance standpoint, being the son of the CEO does not make you the right future CEO. Having huge conglomerates might help with coordination, but not for competition. Samsung the smartphone company will feel obligated to use Samsung the construction company , even if Hyundai might meet the requirements better. Having only large corporations that can throw their weight around is basically a planned economy. That works well when the people running them are good. Sometimes planning works! But you now are placing your bets on the skills of a couple dozen people not being bad at their job. If these companies were split up, then suddenly an economic crisis requires a much larger amount of people being stupid. This isn't impossible (2008 is a good example of interests not being aligned), but personally I prefer that to a quasi monarchy. |