From the viewpoint of economic history, the tax rate on farm land was comparatively low in the Joseon dynasty. In the early era of the dynasty, it was 10 percent of the products, which was lowered to 5 percent by King Sejong, who wished to practice the Confucian idealism. In consequence of Daedongbeop, the fiscal revenue increased by 20 percent for the central government. The tax burden including indigenous products was lowered by a half or, in some cases, one fifth of the previous taxation. Thereafter, the population and the gross domestic products grew up to three times than before. The economic growth rate was estimated to be 0.2 percent on average. It was not so bad in view of the world average before the industrial revolution. Kim Ki-cheol, Interview with Prof. Lee Heon-chang: Preference of Song Si-yeol to Kim Yuk caused Joseon to deteriorate, March 13, 2020.
