Puey Ungphakorn
Puey Ungphakorn | |
|---|---|
| Born | March 9, 1916 Thailand |
| Died | July 28, 1999 (aged 83) London, United Kingdom |
| Occupation(s) | Economist, academic, government official |
| Years active | 1949–1976 |
| Known for | Governor of the Bank of Thailand, Rector of Thammasat University, Free Thai Movement member |
Puey Ungphakorn, MBE (; ; 9 March 1916 – 28 July 1999), was a distinguished Thai economist who held the positions of Governor of the Bank of Thailand and Rector at Thammasat University. He is renowned for his influential book From Womb to Tomb: The Quality of Life of a South-East Asian, which is a foundational text on social security in Thailand.
Originating from a Thai Chinese background, Puey was among the inaugural graduates of Thammasat University, then called the University of Moral and Political Sciences. Initially, he taught French before receiving a scholarship in 1938 to pursue economics at the London School of Economics. His academic path was disrupted by World War II, during which he became involved with the Free Thai Movement opposing the pro-Japanese regime. In 1944, after a reconnaissance mission, he was captured as a prisoner of war but ultimately completed his doctorate in 1948.
Beginning his career at the Ministry of Finance in 1949, Puey climbed through key positions until his appointment as Governor of the Bank of Thailand in 1959 at the age of 43. He remains the youngest and longest-serving individual in that role, leading for more than 12 years until 1971. His tenure shaped Thailand's economic strategy under Field Marshals Sarit Thanarat and Thanom Kittikachorn, and he was instrumental in fostering regional financial collaboration, contributing to the creation of entities such as the South East Asian Central Banks Research and Training Centre (SEACEN). In recognition of his public service, he was awarded the Magsaysay Award in 1965.
Alongside his governmental duties, Puey served as Dean of Thammasat University's Faculty of Economics from 1964 to 1972. He became Rector in 1975 but resigned following the 1976 student massacre. Accused by nationalist factions of leftist sympathies, he sought refuge in the United Kingdom, where he remained until his passing in 1999.
Early life and education
Puey was born as the fourth child to a Chinese immigrant father who worked as a fishmonger and a mother who was a second-generation Thai Chinese from Raoping. In 1934, he enrolled at the newly established Thammasat University, completing his studies in 1937. After a short period working as a translator, he secured a government scholarship to study economics at the London School of Economics in 1938.
Free Thai movement
When Thailand entered World War II on the Axis side in 1942 under Field Marshal Plaek Phibunsongkhram, Puey's academic pursuits were halted. He joined the UK-based Free Thai Movement, assisting efforts to resist the pro-Japanese administration. Commissioned as a Captain in the British Army, he underwent training with the Special Operations Executive and parachuted into northern Thailand in November 1944 during Operation APPRECIATION to establish contact with anti-Japanese leader Pridi Banomyong. Captured immediately upon arrival, he remained imprisoned until Japan's defeat in 1945 but maintained cooperation with Free Thai police while incarcerated.
Following the war, Puey was promoted to Major within British forces and honored as a Member of the Order of the British Empire. He returned to his studies supported by a Leverhulme Trust scholarship and earned his doctorate in economics from LSE in 1948, becoming among Thailand's earliest PhD holders. His dissertation concentrated on tin economics.
Ministry of Finance
Puey began his career at the Ministry of Finance in 1949 as an economist and advanced to become the managing director of the National Economic Council by 1953.
Bank of Thailand
In the same year, 1953, Puey was appointed Deputy Governor of the Bank of Thailand and later ascended to the position of Governor in 1959. His reputation for financial probity and strategic economic planning earned him international acclaim, culminating in receiving the 1964 Magsaysay Award for public service—the first Thai to be honored with this distinction. This recognition strengthened his standing with military leaders such as Field Marshals Sarit Thanarat and Thanom Kittikachorn, who relied on his expertise to oversee Thailand’s monetary policies and address challenges including mismanagement related to tin council involvement and currency issuance controversies.
Other positions
Following his tenure as central bank governor, Puey was appointed to the National Legislative Assembly—an unelected body established under the interim constitution of December 1972 after Thanom’s 1971 auto-coup. After the 1973 popular uprising ousted Thanom’s regime, caretaker Prime Minister Sanya Dharmasakti, himself a former Rector of Thammasat University, designated Puey as chair of the Economic Advisory Council. He maintained these roles until Sanya’s administration was replaced by the elected government led by Seni Pramoj after the 1975 elections.
Academic career
In 1966, Puey assumed the deanship of Thammasat University’s Faculty of Economics, significantly advancing Thailand’s technocratic education through partnerships with the Rockefeller Foundation and international academics. He launched sustained research initiatives aimed at enhancing productivity and improving economic conditions for rural Thai communities. During this period, he held visiting professorships at Cambridge and Princeton universities and served on boards including the International Council for Educational Development, the East-West Center, the Asian Institute of Management, and the International Food Policy Research Institute.
Puey played a key role in establishing the Bangkok-based Asian Institute of Technology (AIT) in 1967 and was its inaugural chairman of the Board of Trustees from 1968 to 1973. After Thanom’s removal in 1973, Puey was considered a prominent contender for prime minister alongside M.R. Kukrit Pramoj. However, he declined to enter political office, citing a pledge made during his Free Thai Movement involvement not to accept political appointments prior to retirement. Some observers believe he foresaw the instability and dangers inherent in Thailand’s emerging democratic system.
Exile
Despite his esteemed reputation and global recognition, Puey was branded a communist sympathizer and accused of undermining national unity by elements within Thailand’s political right. Although critical of the 1975–76 student protests—deeming them ineffective—and having denied students access to Thammasat University for demonstrations, he was nonetheless held accountable for ensuing unrest.
On 6 October 1976, in response to a brutal massacre on campus, Puey resigned from his post as rector in protest. Threatened by a hostile mob at Don Mueang airport, he escaped with assistance from Royal Thai Air Force police acting under orders from King Bhumibol’s privy council and fled to London.
During his exile, Puey collaborated with Thai expatriates and international leaders across the UK, US, Europe, Japan, and Australia to promote a peaceful democratic transition in Thailand. In 1977, he provided testimony before the US House Committee on Foreign Affairs concerning human rights violations associated with the massacre.
Later that year, Puey experienced a haemorrhagic stroke resulting in speech difficulties and partial paralysis. He passed away in London on 28 July 1999.
Legacy
In 2015, UNESCO honoured him in recognition of his exemplary ethical principles.
Military rank
- Held the rank of Major in the British Army
Academic rank
- Served as a Professor at Thammasat University
See also
- Jon Ungpakorn, Peter Ungpakorn, and Giles Ji Ungpakorn, his sons with his British spouse, Margaret Smith
- Prachuap Ungpakorn, his nephew
External links
- Ramon Magsaysay Award Foundation
- The Quality of Life of a South-East Asian: A Chronicle of Hope from Womb to Tomb authored by Puey Ungphakorn, 1980
- Goodbye to Thailand, letter from Sir Anthony Rumbold to Mr. Brown dated 18 July 1967: Recommendations regarding Dr. Puey
- Violence and the Military Coup in Thailand, Bulletin of Concerned Asian Scholars, vol. 9, No. 3, July–September 1977 Supplement – October 1976: Analysis of the Coup in Thailand
- A Letter from Dr Puey Ungpakorn: The Violence and the October 6, 1976 Coup
- Tribute to Puey Ungphakorn as an exemplary citizen
- 1916 births
- 1999 deaths
- Governors of the Bank of Thailand
- Alumni of the London School of Economics
- Members of the Order of the British Empire
- Ramon Magsaysay Award winners
- 20th-century Thai economists
- Thai exiles
- Thai people of Chinese descent
- Alumni of Assumption College (Thailand)
- Thammasat University alumni
- Academic staff of Thammasat University
- Thai emigrants to the United Kingdom
- Thai academic administrators