It's hardly a libertarian utopia. Libertarian, definitely. Utopia, nowhere near. The Baht is hovering around 200 to a Gold, Gold at 250 Baht per; this looks to be moving up if it's moving at all. Q2 Food costs 13 THB (average salary is around 10 or 12). A Q1 House would cost at least 1k THB if any were for sale. Gifts, when available, go something like 16 THB for a Q2.
Basically, the economy is struggling, to put it mildly. The arms exporters and their ilk started salary wars to ensure they got the choice portions of the small labor pool, with the net effect of driving Food and other Manufacturing-based prices up through the roof. There's obscene amounts of Baht floating around keeping the value severely depressed. Money-market manipulators play with its value to their benefit, and everyone else's detriment. We have too many companies for our labor pool, and even if we do see some people close theirs, we then see foreigners open new ones to exploit our cheap labor. And no one wants to think about anything beyond extremely vague market-faith-based solutions. Raising taxes to pull currency out of circulation is blasphemy, even if it weren't futile due to the ease of tax evasion in the current system. The UI won't let a nation defend its economy (or political structure, natch) against gross foreign intervention. V1 has always been a hideous mess, and it's only gotten worse since people figured out how to exploit things. This is even ignoring drastic exploits like the Gold duplication bug recently uncovered.
I doubt that more collectivist solutions could possibly help because they'd require buy-in, and no one seems to want that. The president in December laid out a clear blueprint for market-oriented labor syndicates to combat the out-of-control wage inflation; to my knowledge it was wholly ignored as too much work and/or requiring too much trust (it was a more right-wing version of the operating plan I'd been running Urist Mountain Homes on). There's way too much short-sighted individualism; everyone wants someone else to wave a wand and fix the problems in such a way that they themself have to do nada out of their normal routine. Tragedy of the commons, and all that.