Vietnamese Model of Neoliberalism: Accumulation by Dispossession

Authors

  • Thanatda Pongprathum Faculty of Economics, Khon Kaen University
  • Anchayarat Suwan Faculty of Economics, Khon Kaen University
  • Norachit Jirasatthumb Faculty of Economics, Khon Kaen University

Keywords:

neoliberalism, Vietnamese economy, accumulation by dispossession

Abstract

This article aims to criticize the Vietnamese model of neoliberalism. An analysis reveals that Doi Moi policy drove the Vietnamese economy in a neoliberal fashion by engaging its economy with international trade and investment.This transition resulted in remarkable economic growth, but at the expense of accumulation by dispossession. The accumulation exposes environmental degradation which could pose a fatal risk. In addition, the profitability of the economy is characterized by appropriation of absolute surplus value which relies on a relatively high degree of forced overtime work and other kinds of work violation. The accumulation manifests its class contradiction through frequently unorganized or wildcat protests. This struggle continues within the structure of weak labour containing unions and a health system which places the financial burden on individuals. 

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Published

01-08-2022

How to Cite

Pongprathum, T. ., Suwan, A. ., & Jirasatthumb, N. (2022). Vietnamese Model of Neoliberalism: Accumulation by Dispossession. Journal of Arts and Thai Studies, 44(2), 179–192. Retrieved from https://so08.tci-thaijo.org/index.php/artssu/article/view/489

Issue

Section

Articles