Thailand’s prime minister has said that eligible businesses and individuals can register from August for digital cash handouts, a controversial program that will cost billions of dollars and is meant to boost the lagging economy.

Thailand’s prime minister said Monday that eligible businesses and individuals can register from August for digital cash handouts, a controversial program that will cost billions of dollars and is meant to boost the lagging economy.

The government announced in April the widely criticized ambitious plan, named the Digital Wallet, meant to give 10,000 baht (about $275) to 50 million citizens in digital money to spend at local businesses.

However, economists have criticized the program, calling it an ineffective way to contribute to sustainable economic growth compared to other measures.

Thailand has in recent years suffered from a sluggish economy that appears to have deteriorated with no clear sign of growth. This month, the World Bank’s Thailand Economic Monitor projected GDP growth of 2.4% for the year 2024.

  • Evil_Shrubbery@lemm.eeEnglish
    0·
    4 months ago

    A: Being alive, being part of the economy and social structures, etc.

    You know, humans.
    Nobody needs to earn money. That by default means those who cannot earn money by current local financial sentiments, are worthless. Yet everyone is worthless if there is nobody spending “earned” money.

    The ‘poor’ spend relatively more money than the rich, and they tend to do that locally, they pay more taxes, produce labour, etc.
    Ie all the money gets recirculated into the local economy, which (the local companies) can then invest or compete better.
    Rich don’t do any that or at a fraction of the poor. And additionally it’s easier to stash money offshore, invest & support companies doing shady stuff etc.

    Giving money to big private corps literally never worked better that giving money to all local companies and/or citizens.
    The former is just a transfer from citizens who earned money to a few private citizens.

    But, for example, what do investors do to earn our money?
    I just pace money I have in excess somewhere & demand from their CEOs to cut costs by 14,3% or they are fired.
    That ads financial value, but at what actual cost?

    However, investors take advantage of/rely on the poor spending their money by taking it and concentrating it, which makes that money a lot more dead compared to it being spent.