Economic reforms will solve the ongoing chronic political conflicts, which keep intensifying amid market monopolies, corruptionThe political turmoil has been caused by problems with the economic structure, resulting in massive financial losses, Thailand Development Research Institute (TDRI) chairman Kosit Panpiemras told an annual seminar entitled “Economic Reforms for Social Justice”.
Kosit highlighted three fundamental issues: poverty; business monopolies via policy corruption; and the income gap.
“These collide against political factors, the so-called ‘populist policies’ that, through support of the neglected majority, guarantee overwhelming political success. However, such policies are dubious, because they tend to ignore monetary and fiscal discipline and sustainability. That means they are unacceptable to the middle class of elites shouldering a growing tax burden,” he said.