The Economist: Thai rice plan is failed Thaksinomics

Going against the grain – The Economist, August 15, 2012
…The outlook is particularly problematic in Thailand, as the policy is representative of the government’s ideological stance.
Among the main reasons why Thailand’s elites and political opposition were wary of the election of Yingluck Shinawatra as the country’s prime minister a year ago was the return of the populist economic policies that had become synonymous with her brother. “Thaksinomics” sought to raise the living standards of the country’s poor through government spending, which in turn was supposed to generate a multiplier effect that led to higher consumer spending. It also looked like a wheeze to win votes from the poor…

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