The Sufficiency Economy concept was first mentioned in 1974 when His
Majesty King Bhumibhol warned enthusiastic aspirants of totally modernizing the
Thai economy to consider “sufficiency” as a more appropriate objective.7 Since the
1950’s, His Majesty has been travelling extensively throughout the rural areas in
Thailand and had set up study centres in different regions to do research on the
potential development of each area relevant to their resource conditions. It must have
been clear to His Majesty the King that excessive commercialization leading to
monoculture specialization of the farm is unlikely to solve the poverty problem and
may even exacerbate it. In addition, a more balanced approach to development with
the right emphasis on rural and urban development is more preferable. Specifically,
His Majesty the King suggested, since 1974, that