The effects of unfinished momentum

Why do some nations surge confidently into the future while others advance only in half-steps, not declining but not accelerating either? In their influential book Why Nations Fail (first published in 2012), Daron Acemoglu — now a Nobel Prize economist — and James Robinson, both economists and political scientists at the University of Chicago, offer a helpful lens for understanding Thailand's development path without casting blame or provoking division.

- Peerasit Kamnuansilpa

Their central insight is that prosperity rests not merely on culture, geography, or natural resources, but on institutions — the system of rules and incentives that enable people to contribute, innovate, and rise by merit.

In this seminal book, essentially, nations move ahead when institutions broaden participation, reward capability, and maintain predictability. National progressions slow when decision-making narrows, when talent waits for permission, and when opportunity depends more on personal connection than on merit.

Thailand is far from failing. Over recent decades, we have reduced poverty, expanded education, invested in hospitals and infrastructure, and built a respected role in global production networks. We enjoy social stability that many countries envy. Our challenge today is not survival — it is momentum. We have not fallen behind dramatically, but we have not kept pace with a world that is accelerating. We remain capable, yet our capability has not translated into forward movement as strongly as it once did.

History reminds us that Thailand has progressed most when our institutions have empowered expertise. In the early 1960s, Field Marshall Sarit Thanarat, despite lacking formal economic training, entrusted national development to skilled technocrats and professional civil servants. Under their stewardship, Thailand experienced average annual growth of roughly 7.6% from 1958 to 1967, laying the strong foundation for decades of expansion. The lesson is not to romanticise the past, but to observe the pattern: when decision-making is widened, when policy direction is clear, and when professional capability is respected, Thailand moves with confidence and speed.