Comments on: Sufficiency economy? http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/ New perspectives on mainland Southeast Asia Tue, 24 Nov 2009 02:39:39 +1100 http://wordpress.org/?v=2.8.4 hourly 1 By: Republican http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/comment-page-1/#comment-14462 Republican Thu, 21 Dec 2006 14:26:20 +0000 http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/#comment-14462 For a forecast of the likely trend in Thailand's economic management over the next 2 months see Comment 4 of http://www.prachatai.com/05web/th/board/showboard.php?QID=46488&TID=5 For a forecast of the likely trend in Thailand’s economic management over the next 2 months see Comment 4 of http://www.prachatai.com/05web/th/board/showboard.php?QID=46488&TID=5

]]> By: polo http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/comment-page-1/#comment-14419 polo Thu, 21 Dec 2006 11:53:26 +0000 http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/#comment-14419 The last two comments illustrate the maxim that "everything good is credited to King Bhumibol, everything bad blamed on someone else". The last two comments illustrate the maxim that “everything good is credited to King Bhumibol, everything bad blamed on someone else”.

]]> By: Jon Fernquest http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/comment-page-1/#comment-14418 Jon Fernquest Thu, 21 Dec 2006 11:41:43 +0000 http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/#comment-14418 Thailand is justified trying to protect itself against the US-China giants. Chile provides a clear precedent for effective use of capital controls to prevent exchange rate appreciation: http://research.stlouisfed.org/publications/review/99/11/9911cn.pdf It's better to take a calm cool-headed pragmatic approach to solving the problem like Pridiyathorn than the moralising tone of the Asia Sentinel article though. As for His Majesty the King's sufficiency economy philosophy, Nobel prize winning economist Joseph Stiglitz has a similar approach. Thailand is justified trying to protect itself against the US-China giants. Chile provides a clear precedent for effective use of capital controls to prevent exchange rate appreciation:
http://research.stlouisfed.org/publications/review/99/11/9911cn.pdf

It’s better to take a calm cool-headed pragmatic approach to solving the problem like Pridiyathorn than the moralising tone of the Asia Sentinel article though.

As for His Majesty the King’s sufficiency economy philosophy, Nobel prize winning economist Joseph Stiglitz has a similar approach.

]]> By: Vichai N. http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/comment-page-1/#comment-14405 Vichai N. Thu, 21 Dec 2006 09:46:45 +0000 http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/#comment-14405 Will every market aberration, every wild Baht currency swing either direction, every economic blimp of next 12 months be attributed by Andrew Walker to 'Sufficiency Economy'? The BOT was clearly trying to discourage surge of 'hot foreign money' that was distorting the Thai Baht currency, but overreached. But the remedial measures to stem the damage was at least very swift but of course Thailand's credibility will suffer in the medium term. Republican on the other hand will continue to serve his malicious anti-Thai King posters however ill-timed or irrelevant. Will every market aberration, every wild Baht currency swing either direction, every economic blimp of next 12 months be attributed by Andrew Walker to ‘Sufficiency Economy’?

The BOT was clearly trying to discourage surge of ‘hot foreign money’ that was distorting the Thai Baht currency, but overreached. But the remedial measures to stem the damage was at least very swift but of course Thailand’s credibility will suffer in the medium term.

Republican on the other hand will continue to serve his malicious anti-Thai King posters however ill-timed or irrelevant.

]]> By: nganadeeleg http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/comment-page-1/#comment-14400 nganadeeleg Thu, 21 Dec 2006 08:57:18 +0000 http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/#comment-14400 Give it up Republican - that the king should take responsibilty for a BOT attempt to curtail currency speculation is just nonsense and further highlights your malice and one track mind. Give it up Republican – that the king should take responsibilty for a BOT attempt to curtail currency speculation is just nonsense and further highlights your malice and one track mind.

]]> By: Republican http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/comment-page-1/#comment-14350 Republican Thu, 21 Dec 2006 02:28:18 +0000 http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/#comment-14350 Now will the king, who endorsed the coup, gave his blessing to the military junta, strongly supported his privy councilor as PM, and promoted his wacky self-sufficiency theory as the blue-print for the country's economic policy, be courageous enough to take responsibility for this farce? Or will he, as usual, hide behind lese majeste and let his underlings take the rap? Or is the economy all going to plan: enforced self-sufficiency by royal decree? Now will the king, who endorsed the coup, gave his blessing to the military junta, strongly supported his privy councilor as PM, and promoted his wacky self-sufficiency theory as the blue-print for the country’s economic policy, be courageous enough to take responsibility for this farce? Or will he, as usual, hide behind lese majeste and let his underlings take the rap? Or is the economy all going to plan: enforced self-sufficiency by royal decree?

]]> By: polo http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/comment-page-1/#comment-14311 polo Wed, 20 Dec 2006 20:11:59 +0000 http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/#comment-14311 Not the conventional \\\"Thailand bad boys\\\" view: <a rel=\"nofollow\" title=\"\\\"AS\\\"\" href=\"http://rspas.anu.edu.au/rmap/newmandala/%5C%22http://www.asiasentinel.com/index.php?option=com_content&task=view&id=313&Itemid=32%5C%22\" rel="nofollow">http://www.asiasentinel.com/index.php?option=com_content&task=view&id=313&Itemid=32 </a> Not the conventional \\\”Thailand bad boys\\\” view:

http://www.asiasentinel.com/index.php?option=com_content&task=view&id=313&Itemid=32

]]> By: patiwat http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/comment-page-1/#comment-14301 patiwat Wed, 20 Dec 2006 18:24:18 +0000 http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/#comment-14301 Favorite comment so far: "The one thing worse than an incompetent central bank is an incompetent central bank that flip-flops." - Bratin Sanyal, head of Asian equity investments at ING in Hong Kong. Favorite comment so far:

“The one thing worse than an incompetent central bank is an incompetent central bank that flip-flops.”

– Bratin Sanyal, head of Asian equity investments at ING in Hong Kong.

]]> By: Bystander http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/comment-page-1/#comment-14300 Bystander Wed, 20 Dec 2006 18:12:02 +0000 http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/#comment-14300 Wisdom, old age, virtue, royal blessing, all seem so powerless against the "invisible hand". Wisdom, old age, virtue, royal blessing, all seem so powerless against the “invisible hand”.

]]> By: Andrew Walker http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/comment-page-1/#comment-14198 Andrew Walker Wed, 20 Dec 2006 10:11:35 +0000 http://asiapacific.anu.edu.au/newmandala/2006/12/20/sufficiency-economy/#comment-14198 For a useful overview and analysis see: http://www.economist.com/world/asia/displaystory.cfm?story_id=8459519 For a useful overview and analysis see:

http://www.economist.com/world/asia/displaystory.cfm?story_id=8459519

]]>