The Crown and the CapitalistsDespite competing with much larger imperialist neighbors in Southeast Asia, the Kingdom of Thailandor Siam, as it was formerly knownhas succeeded in transforming itself into a rival modern nation state over the last two centuries. Recent historiography has placed progressor lack thereoftoward Western style liberal democracy at the center of Thailands narrative, but that view underestimates the importance of the colonial context. In particular, a long