Thaksin resigns.

Thai PM resigns following poor election performance04/04/2006 - 14:42:11 Thailand’s embattled Prime Minister Thaksin Shinawatra today said he would step down from office following his party’s disappointing showing in national elections.“I am sorry that I will not accept the premier post,” Thaksin told a news conference.His announcement comes as opposition forces were gearing to resume their anti-government protests and early election results showed his popularity had plummeted amid allegations of corruption and abuse of power.Thaksin won 57% of Sunday’s ballot, according to preliminary results, but scores of voters abstained, including a majority in the capital, Bangkok.

One legitimate reason for the opposition to capitalism in Thailand is that it frequently has been "crony capitalism" as opposed to the competitive capitalism that produces desirable social outcomes. Crony capitalism is a system where companies with close connections to the government gain economic power not by competing better, but by using the government to get favored and protected positions. These favors include monopolies over telecommunications, exclusive licenses to import different goods, and other sizeable economic advantages. Some cronyism is found in all countries, but Thailand this time has often taken the influence of political connections to extremes.