Domestic and international development strategies often focus on private ownership as a crucial anchor for long-term investment; the security of property rights provides a foundation for capitalist expansion. In recent years, Thailand's policies have been hailed as a prime example of how granting formal land rights to poor farmers in low-income countries can result in economic benefits. But the country provides a puzzle: Thailand faced major security threats from colonial powers in the nineteenth century and from communism in the twentieth century, yet only in the latter case did the...