Capitalism ‘a threat’ to democratic progress, critics say

Capitalism 'a threat' to democratic progress, critics say

According to a conference, Thailand’s politics has not advanced much since the student uprising on October 14, 1973.

The Oct. 14 Institute Foundation hosted the website at the Royal Rattanakosin Hotel to remember the sacrifices made by pro-democracy activists, including students, who lost their lives five decades ago fighting a military dictator.

Some people attended the event, including those who took part in the rising fifty years ago. The student rebellion, according to Peerapol Triyakasem, chairman of the foundation, marked the beginning of Thailand’s political movement to free the nation from military rule in a variety of fields, including banks, trade, and investments.

Capitalism started to have an impact on the political structure after the insurrection, he claimed. According to him, entrepreneurs evolved from being financial backers with sway over democratic parties to becoming influential people who have the power to compel the selection of a prime minister.

He added that Thailand has not been focused on sustainable development and justice for the past 50 years and that politicians is a business for interested parties to discuss joint benefits between politicians and capitalists.

According to Chaiphan Prapasawat, an advisor to the Assembly of the Poor, capitalism poses a serious threat to elections because many institutions use the word” development” to describe the development of massive projects. He added that it has had a negative impact on societies and that the nation has not learned that some concessions made to private companies connected to lawmakers were approved without thorough research. He asserted that NGOs must persuade localities to take part in all state initiatives.

Previous permanent secretary at the Finance Ministry Sathit Limpongpan urged the government to decentralize creation and investments to other regions outside of Bangkok as well as other major cities like Chiang Mai, Nakhon Ratchasima, and Phuket during the conference. According to him, the government ought to have a schedule for each province’s sustainable growth.