The Development of Relationship between State and Capitalists in Thailand
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2011-01-24
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Journal of Humanities and Social Sciences
Abstract
The connection between Thai capitalists and the government has developed along side Thaieconomic development. Because of the flow of capitalism, several capitalists became key public figuresand had a lead role in formulating the new strategy. Although this influence of capitalists was disruptedsometime, they still had powerful influences on government policies, especially economic policies. Itcould be said that opening up the country to liberal capitalism caused competition among capitalists. Acertain group of capitalists was able to dominate other groups. This resettled in concentration of capitalin the hands of one single group. Yet contradiction between the therefore of production and the relationof production, within the process of monopoly of capital accumulation, led to the economic crises in1997. The necessity for monopolistic capitalists to keep the rate of profit return much over normal rate in order to accumulate more compettion, made a certain group of capitalists gain political power inorder that they could prescribe policies beneficial to them.
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Journal of Humanities and Social Sciences; Volume 28 Number 1Jan-Mar 2009; 27-39