forced to become less labour-intensive and more industrialised. Aided by state laws forcing banks to provide cheap credit to the agricultural sector and by providing its own credit through the Bank for Agriculture and Agricultural Co-operatives (BAAC). The state further invested in education, irrigation, and rural roads. The result was that agriculture continued to grow at 2.2 percent between 1983 and 2007, but also that agriculture now only provides half of rural jobs as farmers took advantage of the investment to diversify. As agriculture declined in relative financial importance in terms of income, with rising industrialization and Westernisation of Thailand from the 1960s, it continued to provide the benefits of employment and self-sufficiency, rural social support, and cultural custody. Technical and economic globalisation have continued to change agriculture to a food industry which exposed smallholders to such an extent that environmental and human values have declined markedly in all but the poorer areas. Agribusiness, both privately and government-owned, expanded from the 1960s and subsistence farmers were partly viewed as a past relic which agribusiness could modernise. However, intensive integrated production systems of subsistence farming continued to offer efficiencies that were not financial, including social benefits which have now caused agriculture to be treated as both a social and financial sector in planning, with increased recognition of environmental and cultural values. "Professional farmers" made up 19.5 percent of all farmers in 2004. Thailand's military government in 2016 introduced "Thailand 4.0", an economic model designed to break Thailand out of the middle income trap. For agriculture, Thailand 4.0 aims at a seven-fold increase in average annual income of farmers from 56,450 baht to 390,000 baht by 2037. It is unclear is how this goal is to be reached, given that Thai farms are small — 43 percent of them are smaller than 10 rai, and another 25 percent are between 10-20 rai. These small plots are already mechanized — 90 percent use machinery. Concomitantly, agricultural research budgets have dropped from 0.9 percent of agricultural GDP in 1994 to only 0.2 percent in 2017. Meanwhile, the population ages. The World Bank estimates that by 2040, 42 percent of Thais will be over 65 years old. The debt profile of small-scale Thai farmers is perilous. The UN estimates that Thai farmers who owned their own land declined from 44 percent in 2004 to just 15 percent in 2011. Farmers have accumulated 338 billion baht