• Journal of the Daesoon Academy of Sciences
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• v.31
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• pp.165-197
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• 2018

The purpose of this article is to investigate communal action in the Ox Seeking Pictures of Daesoon Thought as an expression of future prospects. The Ox Seeking Pictures in Daesoon Thought seeks out renewal of thought, renewal of life, and true living. Here, the Ox Seeking Pictures symbolize a world in which good fortune comes true according to faith in Gucheon Sangje. The correlation between searching for the ox and the supporting teachings of the Reordering Works of Heaven and Earth in Daesoon shows the transformation of Daesoon prospects for achieving the renewal of thought. The correlation between Deep Contemplation Leading to Awakening and Finding and Following Heavenly Teachings shows the transformation of Daesoon reason into a practice implemented in daily life. The correlation between a human being's awareness and the heavenly paradise of the Later World shows transformation into true living based on everyday practice and the practical transformation of one's livelihood. In this investigation, we can say that the Ox Seeking Pictures of Daesoon symbolizes the realization of human dignity and respect for lives. No life should be destroyed or violated by another. Heaven, Earth, and Humanity can be changed and born anew. The visions of the realization of the heavenly paradise of the Later World show that this paradise in the world results from Daesoon principles. This provides a unique insight when compared to the bodhisattva ideal conveyed through the Ox Seeking Pictures of Mahayana Buddhism. Daesoon's Ox Seeking Pictures consist of a three-way interlocking of renewal of thought, implementation in life, and the practical transformation of one's livelihood. The communal spirituality based in Daesoon Truth connects and mediates among people and appears in three aspects. Firstly, it is thought to be a vision of the renewal of thought through the 'Virtuous Concordance of Yin and Yang.' Secondly, it is thought to be the vision of a new life based upon the spirit of Mutual Beneficence. Thirdly, it is thought to be a vision of true living through the realization of human dignity. Because of the appearance of the Ox Seeking Pictures of Daesoon Thought, this narrative picture shows the oxherd as searching for an ox which is the symbol of Daesoon Truth and Dao. Even though he catches the ox, he is still holds the rope to tie the ox to himself. He makes an effort to keep the ox steady. Finally, the oxherd's enlightenment becomes the source of responsibility to help unenlightened people in their struggles. In conclusion, it is necessary to interpret these paintings as the start of the Later World.

• Economic Analysis
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• v.26 no.1
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• pp.1-33
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• 2020

Recent discussions about a minimum wage increase (MWI) and its influence on the economy have mainly focused on the quantitative aspects, such as labor costs and employment. However, concerning the qualitative aspects, an MWI could have positive effects by enhancing firm productivity and crowding out marginal firms from the market. These positive effects of an MWI can offset, to some extent, its potential negative effects - increasing labor costs and decreasing employment, among others. In this regard we empirically examine the impact of an MWI on firm productivity (total factor productivity). Using firm level panel data from the manufacturing industry in Korea, we calculate the influence rates of a minimum wage by sector and by firm size (number of workers), and analyze its effects on firm productivity. In particular, the production functions of the firms are estimated by taking into account endogeneity among the input factors, in order to resolve the drawbacks of existing studies - underestimating the capital factor coefficient and overestimating the labor factor coefficient. This study finds that the influences of an MWI on wages, employment, and productivity are substantially different across sectors and firm sizes. While an MWI has shown to have positive influences on productivity growth in the manufacturing industry as a whole, each sector demonstrates a different direction of effect, and the degree of productivity change also varies by sector. The impacts of an MWI on firm productivity are generally estimated to be more negative for smaller firms, but in some sectors the effects are found to be positive. In addition, the wage increases resulting from an MWI seem to cause a productivity enhancement across all sectors in the manufacturing industry. The policy implications of this study are as follows. Considering the empirical findings that an MWI causes an increase in productivity in many sectors of the manufacturing industry, it would be desirable to take into consideration not only the negative side effects but also the positive effects of an MWI when designing any future minimum wage policy. Moreover, in spite of there being a uniform minimum wage, this study finds that the diverse influence rates of a minimum wage across firms have different impacts on wages, employment, and productivity across sectors or firm size. This finding could be conducive to discussions about differentiation among minimum wage schemes by sector or firm size.