For the fourth time since 2001, the Thai electorate has handed victory to Pheu Thai, the party associated with former Prime Minister Thaksin Shinawatra, who was the first to recognise the social pressures generated by Thailand's breakneck transition from a low-income to a middle-income economy over the past generation. For the past five years, the battleground of Thailand's political conflict has been the streets. In this melee, the composition and weight of each side has been hard to gauge. The poll result gives a clear reading; the election also shifts the conflict back into the formal institutions of representative democracy.