26 11 2009

Also available as ที่รวยก็รวยเหลือล้น ที่จนก็จนเหลือหลาย

Sanitsuda Ekachai in the Bangkok Post (26 November 2009) reproduces some data on inequality that comes from a presentation by economist Pasuk Phongpaichit:

– The top 20% own 69% of the country’s assets while the bottom 20% own only 1%.

– 42% of bank savings money comes from only 70,000 bank accounts holding more than 10 million baht. They make up only 0.09% of all bank accounts in the country. In other words, less than 1% of the people own nearly half of the country’s savings.

– Among the farming families, nearly 20% of them are landless, or about 811,871 families, while 1-1.5 million farming families are tenants or struggling with insufficient land.

– 10% of land owners own more than 100 rai each, while the rest 90% own one rai or less.

– On income distribution, the top 20% enjoy more than 50% of the gross domestic product while the bottom 20% only 4%.

– The average income of the bottom 20% is the same as the poverty line at 1,443 baht per month.

– The gap between the richest and poorest family is 13 times, higher than all our neighbouring countries.

No points for guessing who is the richest and who probably owns more land than anyone else in the country while paying no personal income tax.  It can also be noted that income and wealth inequality usually coincide with inequalities in political power.



3 responses

26 11 2009
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