Abstract
Many countries facing economic stagnation recently have achieved significant economic development for the past few decades. Those countries are mostly in Asia, and it is easy to make the connection to Thailand as its location and outperformance in economic development. As many countries are facing this issue, it is essential to find the reason for this to happen to help solve the dilemma and continue the economic growth in those countries. This paper looks into the specific causation of inequality to economic stagnation and establishes the causal relationship between them. This is important because establishing the relationship can help to suggest possible solutions for solving economic stagnation where no existing report has been done. Throughout the paper, it contains secondary data resources and used qualitative research resources as support to make the argument. Showing the data of GDP identifies the economic stagnation, and these data are already being collected and shown online. Many previous studies have pointed out the possible problem of economic stagnation in Thailand maybe inequality but without an actual in-depth study. Knowing that Thailand is focusing on its development in human capital, a focus on education was selected and centered on searching data and arguments that are supported. Finding existing papers with data elaborated on the problem of inequality and outcomes brought by inequality in the current Thai education system, it can be further analyzed to conclude that the outcomes are closely related and caused by inequality in the society. The poor outcomes can lead to not having enough high-educated talents in the labor market, then cause a slowdown in companies and economic development, which falls to economic stagnation. Based on analyzing this evidence, a relationship can be established between the inequality in society and the education system and then caused an effect on economic development.
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