Pheu Thai’s ‘Ultra-Populist’ Digital Wallet Could Backfire: NIDA Academic

[webfact]

 

By Thai Newsroom Reporters

 

THE PHEU THAI “ULTRA-POPULIST” campaign could probably worsen the economic conditions of the debt-ridden country and backfire on the party’s hopes for a landslide victory in the May 14 general election, said a noted academic today (Apr.6).

 

Pichai Ratanadilok na Phuket, head of the National Institute of Development Administration’s Political & Development Strategies Project, posted on his Facebook page to give a warning against the Pheu Thai of their campaign-pledged, 10,000-baht digital wallet to hand out to each of all Thai adolescents and adults only if the party becomes government after the nationwide election.

 

The NIDA academic’s comment followed yesterday’s campaign promise made by Settha Taweesin, one of a trio of Pheu Thai partisan candidates for prime minister, to provide the 10,000-baht digital wallet for all Thais to spend in six months on the purchase of goods and services in a radius of four kilometres from their home.

 

Full story: https://thainewsroom.com/2023/04/06/pheu-thais-ultra-populist-digital-wallet-could-backfire-nida-academic/

 

-- © Copyright  THAI NEWSROOM 2023-04-07

 

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[2baht]

Come on, shoot the works, give them 50,000!  

[Srikcir]

Wasn't it NIDA polls while Prayut was PM 2014-2023 that consistently showed that something like 90% of Thais supported Prayut? 

[hotchilli]

2 hours ago, webfact said:

Pichai Ratanadilok na Phuket, head of the National Institute of Development Administration’s Political & Development Strategies Project,

So where's he been for the last 8 years?

[ikke1959]

More income means more to spend and that is better for the economy.  Only problem is that a lot of promises are being made in election time, but most are never fulfilled. 

[SABloke]

Could be good for local economy, but I suspect that the true locals won't benefit. I'm assuming that the local mom 'n pop shops in rural Thailand won't necessarily have the means to accept Digital Wallet payments which means that the next most likely recipient of the funds will be 7/11 ????

[hioctane]

18 minutes ago, SABloke said:

Could be good for local economy, but I suspect that the true locals won't benefit. I'm assuming that the local mom 'n pop shops in rural Thailand won't necessarily have the means to accept Digital Wallet payments which means that the next most likely recipient of the funds will be 7/11 ????

They can take digital payment from their phone these days. Even street vendors accept digital payments now!

[hioctane]

27 minutes ago, ikke1959 said:

More income means more to spend and that is better for the economy.  Only problem is that a lot of promises are being made in election time, but most are never fulfilled. 

Yep. I don't think it will happen. It is like in school running on a platform of no homework.

[bamnutsak]

The Prayut regime has had a digital welfare system in place since 2017. Currently some 14.5 million participate with monthly stipends in the 200 - 800 baht range.

 

The Prayut regime has been handing out agricultural subsidies to farmers since 2017.

 

Credit to government employees has been extended far beyond reasonable percentages, by banks and coops, under the Prayut regime.

 

It's weird that academics, and other critics, all of a sudden think welfare is a bad thing when a populist party "suggests" this as a platform.

 

 

[OneMoreFarang]

Now how many of the Thaksin voters even understand the concept that the money has to come from somewhere?

Give it to us, we don't care where it comes from.

Yeah, sure. 

[sammieuk1]

Is it time to mention that age old fable the foreign currency reserve or has that already gone mysteriously ????

[dinsdale]

2 hours ago, SABloke said:

Could be good for local economy, but I suspect that the true locals won't benefit. I'm assuming that the local mom 'n pop shops in rural Thailand won't necessarily have the means to accept Digital Wallet payments which means that the next most likely recipient of the funds will be 7/11 ????

Agree except for one thing. The closest 711 or anywhere that can accept the digital wallet payments may well be more than 4 km away which would make the Bt10,000 unuseable. Once again the thought bubble empty headed idiots have not thought this through. Guarantee you that every Thai that lives more than 4 km from where they can now use their blue cards will see this for what it is. 

Edited April 7, 2023 by dinsdale

[Guderian]

A massive unfunded boost to public spending will mean a huge budget deficit and that will drive the Baht down sharply. Oh please, Buddha!

[ChrisY1]

4 hours ago, OneMoreFarang said:

Now how many of the Thaksin voters even understand the concept that the money has to come from somewhere?

Give it to us, we don't care where it comes from.

Yeah, sure. 

All parties offering stupid rewards for the votes, target the less fortunate in the hugely populated rural regions. There are millions of votes out there!

[realfunster]

4 hours ago, bamnutsak said:

The Prayut regime has had a digital welfare system in place since 2017. Currently some 14.5 million participate with monthly stipends in the 200 - 800 baht range.

 

The Prayut regime has been handing out agricultural subsidies to farmers since 2017.

 

Credit to government employees has been extended far beyond reasonable percentages, by banks and coops, under the Prayut regime.

 

It's weird that academics, and other critics, all of a sudden think welfare is a bad thing when a populist party "suggests" this as a platform.

 

 

 

There can indeed be a thin line between "populism" and generally accepted state subsidies and welfare programs.

 

I would say that you calling the PT THB 10,000 "welfare" is pushing it to the very limit, I would say, for the most part, that "welfare" should be targeted at those in need.

 

On the positive side, it would mean that the money is given back from the government purse to the public, so at least they (government) cannot misuse it or siphon it off....

[MrMojoRisin]

Funny how there is never enough money to fund programs for the poor whilst corporate welfare and billionaire tax breaks are never questioned. Democracy will go some way to righting this wrong.

[bamnutsak]

1 hour ago, realfunster said:

I would say that you calling the PT THB 10,000 "welfare" is pushing it to the very limit, I would say, for the most part, that "welfare" should be targeted at those in need.

It doesn't matter what I call it, and until details are published (never) I still contend that it is no more or less problematic than all of the giveaways the Prayut regime has handed out in six-ish years. 14.5 million people are currently on the dole.

 

UTN (Prayuth) is also pushing more/increased welfaer payments.

 

PPRP (Prawit) is pushing increased welfare stipends.

 

 

 

 

 

 

[h90]

7 hours ago, 2baht said:

Come on, shoot the works, give them 50,000!  

you are stinky! Make everyone a millionaire or billionaire...everyone can be rich as Thaksin with a few mouse clicks and digital money.

[h90]

Just now, bamnutsak said:

It doesn't matter what I call it, and until details are published (never) I still contend that it is no more or less problematic than all of the giveaways the Prayut regime has handed out in six-ish years. 14.5 million people are currently on the dole.

 

UTN (Prayuth) is also pushing more/increased welfaer payments.

 

PPRP (Prawit) is pushing increased welfare stipends.

 

 

 

 

 

 

yes it is global trend...universal income, digital money (that can be canceled or controlled into the last detail).

[2baht]

1 hour ago, h90 said:

you are stinky! Make everyone a millionaire or billionaire...everyone can be rich as Thaksin with a few mouse clicks and digital money.

The army cannot protect 68 million rich! They have their hands full now! Besides, that would require 4 million Generals!

 

 

Edited April 7, 2023 by 2baht

[h90]

4 minutes ago, MrMojoRisin said:

Funny how there is never enough money to fund programs for the poor whilst corporate welfare and billionaire tax breaks are never questioned. Democracy will go some way to righting this wrong.

And keep that artificial discussion running to distract from more fundamental issues....Giving everyone the same opportunities by giving free education (instead of handouts). Having VAT on food and items everyone need is a big disadvantage for poor people. Having way too much government, by saving money on bureaucracy (how many states has Thailand and how many state employs?) you could easily pay university costs for MINT for everyone who want to learn.
Just the idea....you charge on everything in 7/11 7% and and huge amounts on beer and cigarettes from some labor who earns a 12.000 per month. And than you hand out a fraction of it again as welfare and pretend you are kind and caring for the poor. But it is not Prayuts or Thaksins money. It is the money they have previously stolen from us.

[h90]

1 minute ago, 2baht said:

The army cannot protect 68 million rich! They have their hands full now!

There is a solution for that. World Economic Forum, Yuval Harari: Give narcotics and videogames for the useless class.
The Shinawatras are members of this club.

[djayz]

7 hours ago, OneMoreFarang said:

Now how many of the Thaksin voters even understand the concept that the money has to come from somewhere?

Give it to us, we don't care where it comes from.

Yeah, sure. 

How are they different from the non-Thaksin voters? I have yet to meet a voter - in any country - who thinks beyond "what's in it for me?"

[OneMoreFarang]

25 minutes ago, djayz said:

I have yet to meet a voter - in any country - who thinks beyond "what's in it for me?"

Try harder!

[h90]

37 minutes ago, djayz said:

How are they different from the non-Thaksin voters? I have yet to meet a voter - in any country - who thinks beyond "what's in it for me?"

But that is legit. No one expect that voter have altruistic motives.

[BobBKK]

"Ultra Popularist"  they just can't help themselves slagging off PT or FFP can they?  10,000 great idea to help needy Thais - but I think their income should be 15000 or under to get it.

[billd766]

4 hours ago, Guderian said:

A massive unfunded boost to public spending will mean a huge budget deficit and that will drive the Baht down sharply. Oh please, Buddha!

If more money is needed, then scrap the submarine and jet fighters and cut the military budget by 50%.

 

Sack a thousand or more generals.

[timendres]

12 hours ago, webfact said:

to spend in six months on the purchase of goods and services in a radius of four kilometres from their home

Most people miss this insidious aspect of digital money - programmability. Not only can they track every transaction, eliminating all privacy in transactions, but they can program the money to become worthless in 6 months, and they can program where, and for what, you spend that money. This is not a good future.

[Artisi]

1 hour ago, billd766 said:

If more money is needed, then scrap the submarine and jet fighters and cut the military budget by 50%.

 

Sack a thousand or more generals.

But but but, we need subs and planes and generals to protect the country, from whom we don't know but that's not really important so long as our slush fund is kept topped up. 

[SABloke]

16 hours ago, hioctane said:

They can take digital payment from their phone these days. Even street vendors accept digital payments now!

I know! However, a digital service payment from a bank (with "actual" money) is way different from a geo-restricted goverment "wallet". Just because I can send Pa'Phuk a QR payment, doesn't mean I can send her some of my 10k (baht), 4k (km) restricted binary money ????

Edited April 7, 2023 by SABloke