Wen-jen Hsieh, National Cheng Kung University: This paper provides evidence to show that the time-lag for agricultural product production volume after a commodity price boom often results in overproduction. The argument suggests that incessant subsidies is not a suitable approach to maintain the market competitiveness of agricultural industry, both in Thailand and worldwide.

Politically, agrarian subsidies seem to be inevitable for most high and upper-middle income countries, Thailand is no exception.1 Nevertheless, subsidies may not be the most effective or fundamental way to resolve the problem of well-being of Thai agricultural laborers. Incessant subsidies, as this paper points out, could be detrimental to national development in the long term. By taking a deeper look, certain types of subsidies could be beneficial to the countries’ overall economic development. This will be explained in later contexts, along with some questions about the content of this paper.

First, we suggest that the...

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