The concept of self-sufficient economy is not limited only to the farmers. It is applicable to every person of every profession, living in both urban and rural areas. For instance. if owners of industrial factories and companies operating under a self-sufficient cconomic system wish to expand a growing business, they should then proceed gredually. In case they need to obtain loans, the amount of money should be reasonable; a liability which they can manage without going bankrupt. Under adverse financial situations, people should not spend their money extravagantly. Farmers who adhere to this guideline can be successful by growing rice and implementing integrated farming according to the New Theory practice, even on parched land. Those who are not satisfied and always ponder about buying a new pickup or other living facilities, are then not regarded as conducting themselves according to the principle of the Royally-initiated self-sufficient economy. His Majesty graciously granted his advice on self-sufficient economy in order for the people to lead their lives productively, peacefully and happily, with dharma to help steer the course and heart as an essential driving element.
By Maintaining a Balance in the Five Following Aspects Describes the Principle of Being Self-reliant
A balance in the state of mind: one needs to be strong, self-reliant compassionate and flexible. Besides, one should possess a good conscience and place public interests on a higher priority, above one's own. A balance in social affairs: people need to help each other, strengthen the community, maintain unity, and develop a learning process that stems from a stable and on strong foundation.
A balance in managing natural resources and the environment: the country's resources need to be used efficiently and carefully, in order to create sustainable benefits and to develop the nation's stability progressively.
A balance in technology: technology should be used appropriately while encouraging new developments to come from the villagers’ local wisdom.
A balance in economic affairs: one needs to increase earnings, to reduce expenses, and to pursue a decent life.
The Conceptual Framework of self-sufficient Economy
His Majesty King Bhumibol Adulyadej has advocated the idea of self-sufficient economy since his accession to the throne 50 years ago. From that time, he has put his faith in this idea. In the agricultural area where farmers emphasize productivity for commercial export, rice is grown for sale, and the money earned is used to buy rice for family consumption. When they spend all of their money,
they ask for loans. This happens repeatedly, until Thai farmers are overwhelmed with debts. Well aware of the roblem, His Majesty therefore initiated the establishment of a rice bank and a cattle bank in order to help his subjects. This was the beginning of “self-sufficient economy”. Dating back to the early projects in Phetchaburi province, His Majesty always emphasized to the government not to use heavy machinery in farming. He considered that if heavy machinery was rapidly introduced to the farmers, they would soon abandon all the manual farming tools and would no longer be able to help themselves. This fact remains a truth to the present time.
Seeking ways to help the people engaging in agriculture in 1992 His Majesty introduced the "New Theory",
to be implemented at the Royally-initiated Wat Mongkol chaipattana Area Development Project, to serve as a model of land and water management for the farmers. According to the the ory. the land is divided into four parts with a ratio of 30:30:30 10. Based on this ratio, 30% is set aside for pond and fish culture, 30% for rice cultivation, 30% for growing