Burapha Journal of Political Economy

Border Capitalism and the Market-state Nexus: Power, Trade, and Transformation at the Margins

Wasan Pounpunwong — 2026-06-29

This article examines the concept of the market state by analyzing border capitalism, referencing Susan Strange’s work, The Retreat of the State. This perspective contends that borders extend beyond mere geographical demarcations; they represent areas where the state wields economic influence that transforms local communities. In the context of globalization, nations have evolved, increasingly aligning with capitalist interests and assuming responsibilities that were once the domain of the private sector. This transition leads to the state operating as a facilitator of trade and economic development, embodying the traits of a market-oriented state. The growth of capitalism and transnational corporations (TNCs) poses significant challenges to conventional state sovereignty, especially in border regions. These areas transform into contested environments where the authority of the state is both applied and negotiated through economic strategies. The article ultimately indicates that the state, despite seeming to withdraw, has redefined its role to strategically exert influence in innovative manners through market-driven governance, particularly noticeable in border regions.

The Impact of Critical Mineral Supply Chain on U.S. Defense Industry

Jirakit Janraksa — 2026-06-29

The United States defense industry, which relies on the import of critical minerals, has been one of the sectors affected by China's export controls on critical minerals, especially during Biden's administration, where critical minerals have become part of the trade competition between China and the United States. This article aims to study the impact of the critical minerals supply chain on the U.S. defense industry. This article suggests that the heavy reliance of the United States on critical minerals from China in the defense industry, along with China's dominance in the global critical minerals market, constitutes a significant condition affecting the production capacity of the U.S. defense industry, which is crucial to the United States' military power. The asymmetrical interdependence between the United States and China has created a vulnerability in the U.S. dependence on critical mineral supply chains, over which China has influence and the potential to use these supply chains as leverage against the United States.

Fiat: Money, Energy, and the Politics of Time in the Modern State

Weerachon Gedsakul — 2026-06-29

This article reconceptualizes fiat money as an enforcement architecture rather than a property of banknotes: through taxation, law, and credible institutions, the state makes a medium necessary and socially acceptable. Drawing on tax-foundation accounts, it explains how tax obligations generate demand for state money and underpin modern finance. The argument then extends to energy and fuel, showing how control over access, infrastructure, and the allocation of costs and burdens can render energy effectively non-optional, turning it into a strategic site of governance. From this perspective, fiat collapse reflects failures of trust and fiscal support more than issuance capacity. "Finally, the article links fiat governance to present-biased time preferences , foregrounding a politics of time in which monetary, fiscal, and energy policies distribute benefits and costs across time and generations, raising the question of who governs the future in the name of society.

- Book Review: Knowledge and the social sciences

Shotisa Cousnit — 2026-06-29

Power Dynamics and The Development of Quality of Life for The Local Fishermen a Case Study of the Local Fishing Community of Pak Nam Laem Sing, Laem Sing District, Chanthaburi Province

Ussavin Kaewpitak — 2026-06-29

This research article aims to examine the lifestyle, problems, obstacles, and approaches to developing quality of life under the sufficiency economy philosophy and King Bhumibol’s Science among the local fishermen of Pak Nam Laem Sing, Laem Sing District, Chanthaburi Province. The study employed qualitative research methodology through documentary research, in-depth interviews, and focus group discussions. The study findings reveal that the traditional livelihoods of small-scale fishers are confronting multi-dimensional power dynamics of transformation across economic, social, political, and environmental spheres. These changes result from unequal power structures where large-scale industrial fishing capital groups can determine prices and control markets, rendering small-scale fishers with low bargaining power. Middlemen exercise monopolistic power over trade transactions, while local government officials often formulate policies without listening to grassroots voices. The lack of fisher participation in decision-making processes results in policies that do not genuinely align with the needs of local fishing communities. This creates structural problems that reinforce vulnerability conditions and makes sustainable quality of life improvement difficult to achieve. The proposed approaches for livelihood development have been synthesized through the application of sufficiency economy philosophy and King Bhumibol’s Science, demonstrating complex power dynamics. These are not merely developmental conceptual frameworks, but have become discursive resources that fishing communities utilize as tools for political struggle. Approaches that appear to emphasize supplementary occupation creation, social capital restoration, and sustainable resource management are, in reality, strategies for rebalancing power dynamics to challenge the coastal political-economic structures dominated by industrial fishing capital groups, middlemen, and local government officials. This elevation to resistance discourse is not a technical problem-solving approach, but rather the creation of legitimacy for demanding fair access to resources and income rights for local fishing communities

The Authoritarian Consolidation A Comparative Study of Thanom Kiitikachorn and Prayuth Chan-o-cha

Siwapon Chompupun — 2026-06-29

This article examines authoritarian consolidation in Thailand through a cross-period comparison of the governments of Field Marshal Thanom Kittikachorn and General Prayuth Chan-o-cha. It asks how the two regimes stabilized their rule, in what ways their strategies converged or diverged, and how these mechanisms evolved under different structural constraints. The study integrates framework of authoritarian consolidation with “three pillars of authoritarian stability”—legitimation, repression, and co-optation—operationalized across three levels of analysis: macro, meso, and micro. Methodologically, it employs a qualitative Most Similar Systems Design (MSSD) and relies on documentary analysis.

The findings demonstrate continuity in the regimes’ reliance on the three pillars, alongside substantial transformation in the form and logic of these mechanisms. Thanom’s rule exemplifies a traditional military authoritarianism grounded in Cold War security legitimacy and characterized by overt coercion, with co-optation primarily channeled through bureaucratic–military networks. In contrast, Prayuth’s rule represents institutionalized authoritarianism: it invests in rule-based legitimacy and embeds authoritarian control within formal institutions, normalizes repression through lawfare and information governance, and expands co-optation beyond the state apparatus toward state–capital coalitions and mass constituencies via welfare and targeted benefits.

Labor Market and Career Transition Process Proposals: Context for Non-Formal Education Students and Rajaprachanukroh Schools, Nakhon Si Thammarat Province

kiatkajon chairat — 2026-06-29

This qualitative research employed a document-based approach to analyze labor market including supply and demands side, while proposing guidelines for effective career transitions. Data were synthesized from interview, observation and academic literature, research reports, and relevant policy documents. The findings reveal the students in non-formal education programs and those at Rajaprachanukroh schools in Nakhon Si Thammarat province possess significant potential for practical work and a strong desire to improve their quality of life through employment. However, they face critical limitations in self-confidence, digital literacy, communication, and career planning. These results represent that the learners lack access to structured career guidance and work-based learning. Simultaneously, the local economic structure and labor market are experiencing a “skills mismatch,” creating a distinct gap between the education system and the professional world. Therefore, the macro level shows the regional market's increasing demand for semi-skilled and high-skilled workers further exacerbates this competency gap. Consequently, development efforts for these learners should focus on fostering career readiness alongside 21^st century skills and self-confidence. Institutional factors such as local economic structures, labor market policies, and opportunity disparities further influence workforce readiness. Consequently, this study proposes an integrated career transition framework that includes mentoring systems, individualized career guidance, vocational skill development aligned with labor market demands. The study recommends that educational institutions establish formal collaboration mechanisms in term of the triple helix with the private sector and the community to effectively transform the learners as life capital into sustainable economic and social capital.

The Impact of the China-US Trade War on the Thai Economy

Krittachai Chumsaeng — 2026-06-29

This article aims to 1) analyze the economic policy context and trade war measures between China and the United States during 2018-2025, and 2) assess the impacts on the Thai economy in the dimensions of trade, investment, and industry, by using documentary research methods from reliable secondary sources and analyzing through a framework of three economic impact transmission channels: trade, investment, and industry and employment. The study found that the trade war between China and the United States began in 2018 due to U.S. dissatisfaction with the trade deficit with China, intellectual property violations, and concerns over the Made in China 2025 policy. Since both countries have large economies, accounting for 43 percent of the world’s gross domestic product (GDP), the resulting trade war has had effects on the global economy, including impacts on the Thai economy, such as 1) in trade, Thai exports have slowed due to uncertainty, and foreign manufacturing sectors have delayed orders or imports of capital goods from Thailand. 2) In terms of investment, China may relocate production bases to invest in Thailand. Thailand exports some products to replace goods from China and the United States that face high import tariffs. Thailand may also face risks from China’s market dumping that affects Thai producers. 3) In terms of industry and employment, certain industries benefit from the relocation of production bases, but many industries are impacted by import tariffs, leading to reduced orders and increased production costs, resulting in decreased employment, especially in export industries. The resulting impact brings important policy recommendations: Thailand should accelerate the utilization of production base relocation, alongside trade negotiations to diversify export markets and strengthen competitiveness, to cope with uncertainties from the trade war in the long term.