Thai Baht Banknotes As Baht Pares Gains For The Week

Death of a Monarch or an Oligarch?

At the end of a king’s long reign, it won’t just be a game of thrones that plays out in Thailand – it will be a game of gold.

The Associated Press recently published an article on the “Thai monarchy’s billions.” This makes for an important, if brief, reminder that there is more than just the power of quasi-governmental position or the power of ideology to the elite role that the late monarch held within the Thai polity.

Because the King could also readily command a power of mobilisation and could have, at least theoretically, commanded a certain power of coercion if the Thai nation were to ever actually slip into a prolonged, violent emergency, he also commanded a remarkable degree of power in terms of raw material wealth.

An extreme concentration of material wealth has political consequences. Thailand, in this regard, is no different than any other polity across the globe. What is unique about Thailand is that its wealthiest citizen also happened be the focal point of so many other bases of elite power. The late monarch was both an elite and an oligarch. And as he was arguably the top elite amidst a network of various elites, he was also the top oligarch.

Thus, as objectively and level-headed as one can be about such things, we should do well to review the state of Thailand’s oligarchy at this juncture of the late monarch’s—the late top oligarch’s—death.

As a side note on motivation for this piece, it should also be plainly stated that one does not mull over economic inequality simply for the sake of getting a pat on the back by our overly-represented, Left-leaning colleagues in academia. Nor does one do this in order to conjure up even rarer arguments for the late monarch’s well-recorded and, at times, patently undemocratic tendencies. Rather, one ought to review the late King’s material wealth as social power simply because in Thailand it is an empirical fact that money matters quite a great deal on the political stage, both locally and nationally.

With the King’s passing, what has changed about oligarchy in Thailand? What has stayed the same? Beginning with the latter, the overall structure of oligarchy has not changed within Thailand since Thursday, 13 October 2016.

There are still incredibly… [click here to continue to read full text]

*Originally published in New Mandala by T. F. Rhoden; any original credit for image/photo at the top of this post via Bloomberg. Unless otherwise stated, all posts on this website are under Creative Commons licence. 

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Unequal Thailand

Book review published in New Mandala by T. F. Rhoden on Pasuk Phongpaichit and Chris Baker’s Unequal Thailand: Aspects of Income, Wealth and Power (Singapore: NUS Press, 2015.

Does Thailand have an oligarchy? If so, how do we define it? And most importantly for this collection of essays, what is the proof of its existence in contemporary Thailand?

These are some of the main questions that pervade Unequal Thailand: Aspects of Income, Wealth and Power, edited by Pasuk Phongpaichit and Chris Baker. Translated and reworked from a Thai-language edition, Su sangkom thai samoe na [Towards a More Equitable Thailand] published in 2014 by Matichon, this volume is a timely and useful review of some of the political economy issues facing Thailand today.

With nine chapters by Thai scholars and technocrats, the aim of the book is to provide up-to-date data and analysis on those material foundations that have fostered a growth in inequality and a strengthening of oligarchy in recent years. Some chapters do this better than others, but all provide insight into these issues.

In terms of raw empirical analysis, all of the research essays are a success, particularly the second chapter on… [click here to continue to read full text]

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*Originally published in New Mandala by T. F. Rhoden; photo credit for re-post from Matthijs van Oostrum via Atlantis. Unless otherwise stated, all posts on this website are under Creative Commons licence. 

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