The Royal Initiative of the ‘Philosophy of Sufficiency Economy. Although, His Majesty has been promoting self-reliant or sustainable farming in 1950. it is generally accepted that the idea of Sufficiency Economy had been brought up in 1970 during in His Majesty’s speeches.
philosophy of "sufficiency economy". The foundations of King Bhumibol's theory include sustainability, moderation, and broad-based development. The Learning Centre of King Bhumibol's Philosophy of Economic Sufficiency claim the concept is focused on living a moderate, self-dependent life without greed or overexploitation