A Future Innovative Paradigm for Thailand’s Economic Development with Social Equity and New Approaches to Public Policy for the Next Decade

Abstract

An inappropriate development paradigm, unbalanced development strategy, coupled with failed politics, have been the root causes of uneven development and socio-economic inequality in Thailand during the last five decades. This social injustice has increased social tension, thereby leading to political conflicts, violence, and bloodshed several times in Thai economic and political history. Sustainable economic recovery is not possible with the backward and incorrect policy measures undertaken by the Abhisidth Vejjacheewa government within the context of an ine! cient state apparatus, a weak bureaucratic system, and a destructive (old) political regime. The undesirable policy outcome would tend to produce political instability, thus increasing the country’s risks, including a huge public debt burden. Thai society needs an innovative paradigm shift and structural reform for a new economic system—with social equity and peace for all. The author proposes “moral economy for peace” as a human-centered development strategy for the “new” Thailand for the next decade.