Wongsurawat looks at the history of Thailand since the mid-nineteenth century and uses events to elucidate basic economic models and concepts. He selects defining moments in Thailand’s history to convey key economic ideas worthy of classroom discussion.
Written without excessive jargon, the chapters connect complex historical phenomena with broader, transportable economic concepts. The cases range from the signing of the Bowring Treaty in 1855, opening Siam to the forces of globalization, to the Asian Financial Crisis that wreaked havoc on the economy in 1997. Key economic terms are also explained.Reconnecting the increasingly distant fields of history and economics, this is an appealing text to researchers with an interest in Thailand’s economic history, as well as undergraduates undergoing an introductory economics course or overseas program in Thailand.
Table of Contents
1. Durianomics
The Economics of the King of Fruits
2. Incentives
The Rise and Decline of Tax Farming in Early Bangkok
3. Globalization
The Economics of Corvée
4. Production
Technologies of Paddy Cultivation
5. Institutions
Rent Seeking and Clientelism
6. Money
Anatomy of a Financial Crisis
7. Corruption
Business and Politics in the New Millennium
8. Tradeoffs
The Benefits and Costs of Air Pollution Abatement
Further Resources
Biography
Winai Wongsurawat is an associate professor at the College of Management, Mahidol University, Thailand.
