Showing posts with label thailand. Show all posts
Showing posts with label thailand. Show all posts

Friday, August 24, 2012

Thai Class

Numbers don't lie and show the social disparity in Thailand.

80% of land in the country is in the hands of only 10% of land owners. Economist used an indicator called the Gini index to measure the disparity. In the range of 0 to 1, the closer the index is to 1, the greater the disparity. On land ownership, the national disparity is .941, meaning the country is mired in a deep, deep problem with land ownership inequity. The biggest land owner has more than 2.8 million rai, the study found. For individuals, the top 20% own an average of 62.5 rai, which is 729 times higher than the lowest 20% who own an average of less than one rai.

The richest 20% own more than half of the value of all household assets ( which include houses, lands, cars and cash worth about 18 trillion baht.)

Stocks and shares are owned by only a handful of powerful business families.

Thai politicians are big landlords themselves. According to their declared assets with the National Anti-Corruption Commission, the MPs own 27,035 rai combined, worth more than 15.7 billion baht, according to MPs' own estimates. The real market value is believed to be much higher. Also, the numbers do not include the land that might have been put under other people's names.