• Most Koreans lived by subsistence level agriculture enjoying meager material goods.

    FORBES: North Korea's Plight Proves the Power of Markets

  • Africans are emerging from a subsistence economy and have a craving for consumer goods.

    FORBES: Magazine Article

  • Except in their own households, life was largely reduced to the terms of subsistence, and in the absence of a more widespread demand for goods and services, even the richest could no longer find or acquire luxuries that had once been commonplace.

    FORBES: Magazine Article

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