2016 Volume 5 Issue 1 Pages 19-34
The creation of elite networks can be explicit and deliberate, especially as a strategy to sustain an oligarchic political system. In Thailand, because of rapid economic and social change, there are few of the established, seemingly natural frameworks for networking found in more settled societies. Those hopeful of joining the power elite come from widely differing backgrounds. Paths through education are very fragmented. There are no clubs and associations that can serve as meeting places. Alumni associations have been brought into existence as one major way to meet the demand for a framework for power networking. This particular associational form is familiar and comfortable because it draws on aspects of collegiate life that most of the participants have experienced. The military pioneered this strategy in the 1960s. When the military’s power and prestige waned in the 1990s, several other institutions emerged to fill the gap. One of the most successful was the Stock Exchange of Thailand, which created the Capital Market Academy (CMA) in 2006. CMA offers academic courses, but its main purpose is to create an alumni association that serves as a network hub linking the main centers of power—bureaucracy, military, judiciary, big business, politicians, and select civil society. Such networks are critical to the rent-seeking activity that is one feature of oligarchic politics.