Sufficiency Economy
The “Sufficiency Economy” is a philosophy which His Majesty the King introduced over 25 years ago to his people so that they are able to lead a well balanced way of life, long before the existing economic crisis. Later, he also stressed the way to restoring and sustaining a moderate way of life in the midst of globalization and various other changes.The “Sufficiency Economy” is a philosophy that guides the lifestyle and behaviour of people in all levels, in family to community, and to the country, to lead a middle path, especially in pursuing the economic development in keeping with the world of globalization. Sufficiency means living in moderation within reason. It is also necessary to instill a level of good conscience in people to counteract any negative impact resulting from the various changes within the country and the outside world. Careful and knowledgeable planning must be applied in all steps of development. At the same time, it is necessary to build up a spiritual foundation for all people in the nation, especially among government officials, scholars, and businessmen at all levels, so that they also become conscious of the moral integrity and honesty needed to strive for the appropriate wisdom to live their life with tolerance, diligence, wisdom, and awareness. It is also to maintain balance and to be ready to cope with the rapid and widespread changes in materials, society, environment, and cultures from the outside world.